Chick, chick--> BOOM!
Lol. Ok you want it done cheap? No problem. Just go for basics, but do it quality.
230-250rwkw (plenty), supporting mods (duh), HD clutch + light flywheel, lowered on adjustable coilovers, 17x9 inch rims at the rear sitting on 255/40 rubber (even more= better), front 17x8/9 inch. Sway bars and strut braces. Oil cooler. Think about a GTR rear wing (do 34 ones swap to a gtt?). Also uprate the brake pads, fluid and get braided lines. Get as much weight off as possible, esp. on the front end (hard on a budget though).
Test that out and go from there adding whatever it needs. Now that i think of it, this isn't really that cheap...
Have fun! Oh, and picsorban when the project starts