Is there anyway to title a constructed vehicle?

I am thinking of building a tube frame chassis vehicle for drag/auto cross since most suitable chassis would be either too exensive (ie, corvette) or require such extensive modification that the cost would be prohibitive. Also a tube frame vehicle would be significantly lighter than any production vehicle as well as having far more structural rigidity.

The idea in its current state:

Build a tube frame chassis with the best possible suspension design with room for large racing slicks and excellent suspension geometry, then drop a cool body onto the chassis. The car is going to have a small block chevy and most likely a T56 transmission. Only would need to seat two, but possibly 4. Entertaining the idea of a using a BMW 2door 3 Series shell with an M3 body kit, cause its pimp but the 3 series is manufactured in sufficent numbers that the body panels would still be mildy affordable (unlike, say Porsche, Ferrari's etc etc.)

Question is what is required to title such a vehicle, like a kit car?

I know someone on here is building a factory five car, if you know anything about this I would love to hear from you. Is the kit certified federaly for road use? or does the state just let kit cars slide cause there are so few of them?

Cliff notes: BMW with Chevy V8, tube frame chassis, how to make it street legal?