I always had a thing for stuff like this, so here's the plan:
1. Buy old econobox (or any old car similar) with mismatched body panels (BONUS IF BOXY)
2. Buy superficially rusty steelies if car has alloys and replace them, and get proper grippy rubber.
3. Rebuild 4 cyl engine and build for 250-300 HP with turbo to start with, turbo can be cranked up later (be sure drivetrain can handle it).
4. Cut hole in hood for intake, make sheetmetal scoop. like this:
6. Hoon away, and troll everybody, Profit.