the second those front tires come off the ground, consider your drivetrain shot..
were talkin smoked center diff or a broken rear diff....
Last time i saw that red Laser.. it had misc car parts in the trunk, a dirty rusty cherry picker on the passenger seat... interior parts on the driver seat... clear coat peeling and curbed/dented rims... i offered to buy it off him...
oh, and how do you get spun bearings from a busted timing belt/gear???