I have to ask " how did it get broken?" The problem with welding aluminum is it moves around alot and shrinks. You would need a jig to hold it together while welding, an old bell housing may work. But when your done you still have a used muncie.
Most muncies are well abused ( thats what 4 speeds are for). Any muncie bought used should be torn down, inspected and all questionable or worn parts replaced. The muncies down fall is that the cases are thin and spread under load, the gears mesh changes then they explode!
Muncies are not hard to rebuild. The only special tool need is the front nut wrench.
Like posted earlier a new muncie Supercase goes for about $265. The last time I priced it out you can get a super case, new set of gears, a cast iron mid plate and rebuild kit for under $1000 but you still need a core for some parts.
I hate to say it but I would tend to pass up on a muncie with a busted case unless you want to use it as a core to build up a SUPER MUNCIE !