It sort of depends what your skills are and how much you're willing to put into this. It also depends on your personal "risk threshold" and the degree to which your willing to "redneck" it up a bit
There are many ways to "repair" the rust. I'm probably going to be flamed for even suggesting some of these, but I'll do it anyway. The first step for all cut out the completely rotten part through portions (with a sawzall or with a cutting torch), and clean surrounding sound, but surface rusted metal with a wire wheel on an angle grinder (easy way) or a wire brush and/or rust dissolver (hard way). Then you can do one, or some combination of, the following:
1) Buy replacement panels and weld them into place. You can order things like new, replacement floor pans for many models from auto-parts retailers online (like Rockauto). You can also do this buy finding a wrecker version and cutting out the replacement body section you need (as long as it is sound) and welding it in place
2) Use sheet steel and/or thin gauge flat bars, drill holes, and then pop rivet them to patch the hole(s). This is good way of doing a quick repair to things like rocker and fender panels to make it look a little better, even if you just paint the entire lower portion black. But, if you actually do a good job of cleaning all the surface rust underneath the repair first and then paint or rubber undercoat the repair, it can do a good job of arresting the rust so that the vehicle will last a few more years
3) Use fiberglass matt. Again, this is not going to make it all that more structurally sound, but it can help to slow or stop the rust if you clean of the rust under the repair area. It is also a better way to get a really nice looking repair in areas that will be seen, but you have to put a lot of time into the finishing and sanding for that to happen.
Now, for the really backyard, redneck stuff: You can increase rigidity and structural intergrity by adding your own "frame rails." This is where you can get creative. My Dad and I have used square stock steel, steel pipes, steel bars, and even lumber (2x4s, 2x6s). To add support to the under carriage. Now, I know this sounds pretty bad, but if you think about it with common sense (instead of panicky "but THAT'S NOT SAFE!" thinking), you could see that all of this will only make your car in its current state safer. Will it be as safe as it was when it was new? No. Will it be as safe as it a 2013 model year subcompact car? No. But if you clean (sand, sandblast, grinder) of the rusted areas underneath and weld and/or drill and bolt 1" square tube steel to the key points on the frame, it will be stronger and will last you much longer. Lumber is not as good a solution, but it gives you an easy way (most people have the skills to do some rough work with wood but not so much with steel) to add support to floor pans. You can then use fiberglass to make it a sealed repair so that no water can get at the wood and rot it.
The key to all of these ideas is that you need to be very conscientious about the rust removal and then the sealing of the new repair materials. I know some of my ideas are not ideal and are not the best. But this is 20+ year old Sprint, so I don't think the OP is too concerned with status or safety. But that's a good thing, right? ;)