hey my new mustang

So two days ago I bought a 1982 t-top mustang, the guy that sold it to me said that the driveTran is out of a 86 5.0l 5 speex, the mods that I know for sure are a 650 4 barrel carb, a upgraded fuel pump and full msd, the guy told me that it is a 306 with a 2030 thumpr cam, with 373 gears he also told me that it had stock heads on it. when I was driving I was getting really bad wheel hop and I my buddy was behind me and said that it saging bad on one side when I came on to it, I looked at the shocks and they looked almost bran new. So my questions are these cars bad for the wheel hop? And what would be a good way to fix that? And also I want to make this a street/strip car I wanted to get in to the high to mid 12s by the end of the summer, I already have a wet nitrous kit it maxed out at 125 shot but I need the block for the carb and I'm thinking that I'll get some drag radials, and so I'm wondering what you guys think and what I should do to get in to the 12s?