You will need quite a bit of upgrades to do the project. So far I've completed 2 with a 3rd in the works. Some of your existing parts will work and others will not fit or will not last long.
You have a wide array of aftermarket parts manufactures to choose from. First you had better come up with an amount that you are willing to spend. My first time budget was $2,000 and I blew past that fast. It's all of the little things that you don't consider at first. The second one I made fewer mistakes and watched the prices closely and the third is a basher of new and good used chassis parts. The only stock parts that I have left on mine are the tranny, battery, reciever cases and a few other misc. parts.
Chassis:
Hardcore
RC Lmt
JT
UE
XTM
Dynamite
and there are more
Engines:
Sirio
RB
OS
Picco, ofna, orion
and there are more
I personally have the Sirio 27 and 2 Ofna/Picco 26's. Both are very good mills but the Sirio has more power.
The least expensive way that I have found was the Dynamite kit and the Ofna/picco or the Orion/Picco .26 mills.
You can pick up the Dynamite chassis kit for $149 it includes most of what you will need for the conversion. You will still need to replace the trans gears with steel or aluminum RRP's, $50.00. Then you will have to rebuild the front/rear diffs and shim them. On a budget you can do it for $200+ or you can shim them properly and wait for them to break. The Picco mills depending on the one will run you $110-180 range.
There are several members in this forum with a lot of knowlege in the area. Use you search tool and you will get many results.
Good luck.