Rust - can be removed in one of several ways, by chemical, sandblasting or replacement of part. Once parts are cleaned rust must then be prevented from returning by with anti rust chemicals or in combined with paint. Once rust has been removed humidity will cause rust to reappear in short order. My 29 like many vehicles this old will have rust that runs deep into metal parts and is hard to remove completely by sandblasting, chemical rust neutralizers should be used afterward. Sandblasting which is fast always takes some good metal away and may not get into the fine cracks and pits, causing rust to continue eating metal away. There are two methods of sandblasting, siphon and pressure. Enclosed cabinets use air to siphon sand from a hopper which exits a gun at great force using (80 - 100 lbs of air pressure) to abrade rust or paint from parts. Since it this is done is an enclosed cabinet the abrasion material falls back down through grating into the hopper to be reused again and again. The abrasive material can be reused over and over till it turns to dust or lacks cutting ability to remove material. Dust is removed by a vacuum device hooked to the enclosure and filtered. A pressure blaster consists of a canister that is pressurized to around 90 lbs around the blasting media and is expelled in the same manor. Pressure units generally must be used outdoors and are well suited for doing large items like chassis and fenders, etc.. The media can be reused several times over provided that you place a tarp around your project to collect the fallen media. Since large amounts of dust are created this method is suitable only outdoors. Disadvantage, large volumes of air are required making small shop compressors gasping for air. Several online dealers of sandblasting equipment are: Tip Tools, Tools-Plus, EastWood Co..

Chemical  Rust Remover - works more slowly but has the advantage of attacking the  rust particles were sand blasting cannot. As with sandblasting some good metal is taken with the rust. Care must be taken to not leave parts in solution longer than necessary. Being in Alaska I don't have the availability of large commercial chemical treatment facilities. Large items like chassis and fenders can be processed by a combination of chemical and electrolysis, if you live near a major city check the phone book for availability. The commercial advantages would be less time consuming, enhanced rust removal and the  problem of disposing chemical waste.  

Home use products include OxiSolv, Naval Jelly, Rust Buster, Corroless etc.. Application is usually with a brush or spray, check manufactures label. These products can be found at hardware or automotive stores. OxiSolv products are available online from the EastWood Co..

A rather simple home use, chemical electrolysis, system consisting of a bucket of  soda water and a car battery can be found at Bills Antique Gas Engine web site in the electrolysis page.     URL is :  http://www.oldengine.org/members/billd/electrol.htm

Found this on the internet, haven't had time to try it yet. I have heard from another source muratic acid works well to remove old chrome from parts which are going to be re-plated.

Take muratic acid, the kind sold in paint stores for etching concrete, and dilute it about 4 to 1. Soaking rusty steel or cast iron in solution several days will remove all rust down to the gray matte finish of the iron or steel. Use a plastic garbage can for the chemical tank and let the parts soak for upto several days in the muratic acid. Any aluminum, copper or brass, however will be readily attacked and be eaten in a few minutes or few hours with rather vigorous foaming. So don't put any of these metals into the muratic mixture. Parts should not stay in solution any more time than needed as it will attack good metal. Remove the part from the muratic and immediately rinse/neutralize, dry and give it a coat of paint, because you could see the part literally turn orange from new rust forming before you. This solution can be used many times and be re-strengthened with additions of muratic as the old was depleted. There is a limit, but it's after lots of parts. Try it, you may like it, but be careful acid burns are very painful.

Rust Converters - under numerous trade names Corroless (EastWood Co.), Miracle rust inhibitor (Hirsch Auto), Metal Prep, Zintex, etc.. These products do not remove rust, but convert rust to an inert zinc phosphate coating. Parts must be cleaned of any oil, grease and paint. Remove any loose rust scale with a wire brush then apply with brush or spray using manufactures recommendation. If you are not planning to paint right after removing rust these products will keep rust from returning.

Interesting Approach - I found this while looking around the internet. Mix 5 parts water to 1 part molasses and submerge your rusty part for two weeks. You can use a bucket, kids swimming pool or anything else large enough for your part. This is a very slow process so resists the temptation to look your parts over every day. It was noted that this fellow was de-rusting fenders and other body parts !.

Electrolysis Method -  This is a technique for returning rust back to iron using a low voltage electric current and a suitable electrolyte (solution). The electrolyte used is washing soda, household lye can also be used but requires special handling (being caustic). Advantages of electrolysis over Navel Jelly and Muratic Acid, Sand Blasting etc., is that they not only remove rust but good metal surfaces as well. Rust is returned back to metallic iron, rust scale is loosened and can easily removed, non-rusted metal is not affected.

The solutions used are not hazardous, and voltages and currents are low. This method is self limiting, it is impossible to over clean an object.

I have yet to test this simple to make home processing unit for non galvanized or zinc coated iron.

Step 1 - Begin by using a plastic tub or pail of suitable size to hold parts in complete submersion. Do not use metal containers of any kind, Lye reacts with aluminum, galvanized metal releases zinc. Mix one tablespoon soda per gallon of water, a bit more soda won't hurt.

Tip - "Washing soda" can be found in the store section where cloths washing detergents are located. It is identified easily by the yellow box with the trade name Arm & Hammer.  Baker power I have been told will work but is chemically not the same and will produce somewhat poorer results. 

If you are using Lye instead the solution is weak though be sure and wear protective gloves and eye protection. Always add Lye to water and not the other way around. 

Step 2 - A piece of iron (not zinc plated or galvanized) or stainless steel for the electrode will be needed. The process works best if part is surrounded since cleaning is " line of sight" to some extent. A hunk of iron will still work fine, turning part to be cleaned once in a while so it has a chance to be in close direct path to the electrode. 

Tip - An old stainless steel pot lid will work well for the electrode.

Two pieces of iron wire to hang the object to be cleaned and the iron electrode from while in solution. If your part is to large to be completely submerged, process the section that is in solution then turn over and repeat process again with what is left.

Step 3 - Be sure part and electrode has been cleaned of all oil and grease. Immerse part to be cleaned and electrode from iron wires into bucket containing solution keeping separated (one inch). Hook up a 4 amp. 12 v. battery charger to the two wires. Polarity is critical, be sure to hook the positive (red) lead to the electrode and the negative (black) lead to the object to be cleaned. If your charger has an ammeter be sure there is some current flowing. A good contact with object to be cleaned is essential for process to work. Some scraping of metal were wires attach may be necessary for a good connection. If all goes well fine bubbles will rise from the part soon after voltage is applied. A current of 1-2 amps should flow with the set up and electrode spacing as discussed. This value was for material that had an area of 4 inches, much larger pieces can and will show higher current, you may have to experiment.  If the current is too high reduce the size of the electrode, move it away from the part or pull it partway out of the solution. After time bubbles will develop on metal surfaces shake part to rid them will speed of processing time. During processing the solution will take on a brownish color looking to a disgusting brown/greenish soup after several hours this is normal.

How long do you leave parts in solution - This depends on amount of rust and the size of both the rusty part and the electrode. You can test the part by trying to wipe off the rust under water with a rag. If rust was heavy you might need a plastic pot scrubber. Rusted areas will turn dark gray to black during processing and is normal, non rusted areas shinny or untouched. If not totally clean try a longer time period in solution, typically cleaning time for moderately rusted objects is a few hours. For badly rusted items they may have to be left in over night to cook. As with anything results can and will vary. Using a test piece of rusted metal is a good idea before proceeding with project pieces. 

Removing rust after processing - Wash under water with a rag. Rusted areas converted by electrolysis will be black in color. Heavily rusted parts may require use of a plastic kitchen scouring pad to remove particles then using 0000 Steel wool if necessary. Parts will now be very prone to rust again unless treated immediately, spray with WD-40 or paint parts