good the mig is the way to go.
you will need a couple of others tools
1- body hammers and drifts (30 bucks)
2- primmer, bondo (zmax is a good brand), sandpaper, glazing putty (50)
3- a sand bag like the kid you use in your trunk
4- and sheet metal shears, a grinder with a speed cut disk and last a flap wheel ( 75)
5- body panel spacers (16 of ebay)
you can get pre made body panels, from most body supply shops
if you cant find the pannels you will need to fab them.
Once you have the pannels close to the shape cut them to fit, and cut 1 inch from the rust, and weld in.
Weld using spot welds no closer then 1.5 inches apart at move around the patch until it is completly welded.
Next grind it near flush then use the flap wheel to smooth it out the rest of the way.