Rear end question

I'ts an open diff. Is this even possible? One wheel turn to 1-1/4 shaft rotations.

If it’s an open diff and both wheels are off the ground you get half as many rotations as the gear ratio. So, you’d double that to get ~2.5. That probably means what you have is a 2.76, which would be pretty standard for a 318/904 no frills car.