You're the guy with the hand-me-down Roadmaster with the buckled wheel, right?
Why don't you do this with your junker frame and see how much until it splits in half and then you buy a better frame if you survive?https://www.youtube.com/watch?v=PKXVpAoM6Y4
Go for BMX cranks though, the cranks he used are too weak for jumping onto. 36 spoke, double wall, cassette hub wheelset, make sure a shop gets them up to tension or you'll get them bent again. I'm guessing the main limiting factors would be your frame being hiten and the 1" headtube.
Or just buy something like a Mongoose Legion L80 off amazon, it's an adult size cromoly frame BMX for $330.