I know a lot of folks will tell you that you can get away with stock this, and stock that...but since you asked what you SHOULD do, here you go. Most of this is from my previous 360 nitrous motor build that I ran nitrous on every pass for 7+ years.
If you are spraying under 150 hp you can get away with a lot of stuff, over 150 you can't (in general). This is what I did for a 180 shot:
Get a high powered ignition system (mine is all MSD, distributor, coil, ignition box).
Cold plugs (NGK A5671-9).
Make sure you have plenty of fuel (i.e. electric fuel pump with decent size fuel line). Fuel pressure gauge is a MUST (I set mine at 6 psi, manufacturer says 5psi). You should also mix in some high octane race gas at this level to help prevent detonation.
Retard the timing (mine was set at 27° for a 180 shot).
Forged pistons with the rings gapped a little loose for a nitrous motor (mine was 0.020 and 0.024 if I recall correctly, but this could be different for different types of pistons and bore size).
Good rods and aftermarket rod bolts (like ARP).
If you want to bracket race and be consistent, you will need the following:
Bottle heater.
Purge valve.
N2O pressure gauge so you can keep the pressure the same at the beginning of each run. I always started the run @ 950psi.
Always start small, once you get the bugs worked out of the system you can start turning it up....and keep a close eye on your plugs. They can usually tell you when you have a problem before things get expensive to fix.
For what its worth, my old 360 motor (in Colorado) ran 13.8 @ 101 on the motor and 11.1 @ 122 with a 180 shot.