67 Barracuda- Brakes and suspension on a 5000 budget- advice needed

Most bang ;
First stop is the tireshop and get rid of the skinny pizzacutters . All the brakes in the world are absolutely useless when your contact patches are the size of silver dollars. ( Yeah I know, a bit of an exaggeration, but you get the idea)
Get the fronts up to 235s and the rear to 295s, and then even a 10" drum drum will stop your street-car just fine, at street speeds. The trick is send some stopping power out to the fatboys in the back.