I've seen and brought back ones worse than this. For anything in this shape I would do the following:
- remove everything, including the knuckles (you'll need new ball joints anyway), this makes the work go much faster
- start with an air scaler and go to town on the housing and brackets (The air scaler allows you to get into places a grinder with a flap disc won't)
- run a 60 or 80 grit flap disc, on a grinder, over every place possible to smooth things out
- inspect all the brackets for perforations or separated welds, and repair as needed
- degrease everything, then spray with a "Rust Reformer"
- once dried, spray with a self etching primer
- once dried, spray with a fast drying satin black (The Kryon link I included dries, legitimately, in 8 - 10 minutes, depending on temperature)
- reassemble everything
That said, main areas of concern would be the brackets, for both the front and rear, and the knuckles. My reason for including the knuckles here is it's hard to see how much damage has been done. You just need to inspect them carefully, ensuring there are no fractures, overall, or damage to where the calipers slide. If anything doesn't look right, you can always get replacement (used) knuckles.
As for the gears, you could try running them like
@Mike_H said, but be prepared to replace them as necessary. From my perspective, they look damaged, but it's really hard to tell. If you're worried about the spider gears, those can be replaced.
FWIW, here is one I did a while ago. Not as bad as yours, but the steps are the same. Being 100% up front, it's a lot of work, but the effort can be worth it if you take your time and don't shortcut!
View attachment 316063
View attachment 316064
Spider Gear Replacement -
Air Scaler -
https://www.harborfreight.com/air-needle-scaler-1108.html
Flap Discs
https://www.amazon.com/dp/B07W6LNRXM/?tag=wranglerorg-20
Rust Reformer -
https://www.harborfreight.com/1025-...MIiO-Y3tvK9gIV34taBR001AWYEAQYAiABEgLQU_D_BwE
Self Etching primer -
https://www.walmart.com/ip/Gray-Rus...hing-Primer-Spray-12-Oz/16816075?athbdg=L1200
Krylon Satin Black -
https://www.walmart.com/ip/Krylon-R...VyVByCh2bPwmWEAQYASABEgIcKPD_BwE&gclsrc=aw.ds