From the auto parts store, purchase the appropriate pads & rotors, shoes & wheel cylinders + a liter of brake fluid. Brake parts are CHEAP for these cars - a lot cheaper than bumpers, grills, fenders and lives.
Pull the front wheels replace pads and rotors - if the pads are wet with brake fluid, replace the calipers as well.
Pull the rear wheels, remove the drums replace shoes and slave cylinder. A new brake "hardware" kit can, by the way, make messing around with drum brakes a LOT easier.
Starting with the right rear brake bleed the system (you want to replace all the old crappy looking fluid with nice, clean fluid so the sequence is LR, RR, LF, RF (in decreasing distance from the master cylinder) - keep the MC topped up while bleeding lest you introduce air into the system (which will give you a spongy pedal)
No sense in making it faster if you can't stop ....
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