Sandblasting shouldn't be too much. Look around. A local guy here will do a set of 4 wheels for $40 or less.
Powdercoating wheels can be expensive, or not. Depends on who does the job.
For paint, check your FLAPS for "wheel paint." That will be less expensive than powder coating for certain. Expect 1 can of wheel paint will do 2 (maybe 3) wheels with several light coats. Don't be impatient. A few light coats is much better than one heavy coat with sags and runs.
For tires, the BFGs used to be great. Every set I've seen in the past 10 years, the letters turn brownish. They are also expensive compared to the other choices.
I'd run 215/70R14 on that car. That will make your speedometer read more accurate than what you have. With what you have now, your speedometer is reading lower than Officer Friendly's radar gun, and that can be a problem.
In that size, if you want to pay extra for raised white letters and probably the best "performance" tire available (in that size), look at the Cooper Cobras. IMO, today, those tires are way better than the BFGs. I run those on (the front wheels of) my S10 pickup truck now, in 215/70R15 and they are great tires IMO.
If budget is an issue, consider the Kumho Solus TA11s in 215/70R14. Also good tires. No white letters, but reasonable grip, and the tread life is better than the Coopers (and way better than the BFGs). Before I got the Cobras, I ran two sets of those on the S10 (on all 4 corners, plus the spare) and they were also great tires. Not quite as grippy as the Coopers, but way more grip than anything that was available 20+ years ago. Also, way better on the budget and they lasted longer. So those are very budget friendly.