Wassssup, this be Buzz. I own a 96 Mystique with dubs and a fatty pipe, I also have a lease on a 1999 SVT, but it is runing out next month. I'm into racing that car can drift with the best of 'em.
Believe it or not, I have run into a similar situation, my friend has a 76 Ford F150 Explorer which he used to power a carwash! The heat exchanger he ran was a basic 10 tube, 25 row, water to water exchanger, very efficient. Although all the ideas seem intelligent, your best bet is to thin the mixture.
The fuel management system from fast and furious will work, if you have 10 grand to spare. Personally, I would fab up a new fuel rail, a 2.5mm diameter will fit your application well. It will reducet the flow and starve your engine of gas.
Also, a direct inject nitrous system will work wonders. You'll have to use forged pistons, but I think it is the most practical for your app.
I am working out the bugs now, but I also am trying to add a simple resister to the on board computer it basically will contolr the fuel map to run a more lean mizture, this also works great for drag racing in colder conditions. I can get the wiring diagram if anyone is interested.
Well, I have to get back designing Fords.
Buzz