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That's a good idea. They're called "riv-nuts". While I don't favor buying "Chinese stuff", Harbor Freight does have a riv-nut set that has several size inserts, I believe 6-32, 8-32, 10-32, and 1/4-20, are the ones that are included, along with the tool to install them. Only problem with the kit, is that it doesn't include a lot of the inserts, so you'll have to source them elsewhere. Automobile hardware supplier Au-Ve-Co sells the inserts, so you could see if there's a local supplier in your area that handles their line, or you could look up Fastenal, Grainger, or McMaster-Carr.
Looks like a worthy project as long as the frame and birdcage are in good shape.
Remember, it’s a marathon, not a sprint. From the looks of your garage, you already understand that.
I absolutely love rivnuts. They’re not great for the 100% authentic crowd and I understand that, but for a restomod they really come in handy in lots and lots of applications. I can’t recommend them highly enough and the Harbor Freight kit does nicely for light duty applications. You will need to source more fasteners than the kit comes with though.