You've already pulled the wheel and your sure its the caliper and not something going on with the parking brakes correct? Daw two doesn't have a used caliper on the cheap? I thought he had some 126 parts cars at his disposal. Shipping is only $11 USPS Priority Mail Flat Rate box.

If you've never rebuilt a caliper before this is probably not the time to learn if you want the car on the road relatively easily. Rebuilding is not always easy and can be quite a pain if things don't go right. The caliper or the piston can be damaged from rust beyond rebuilding and you don't know till you get things apart. The quick and relatively inexpensive route is a decent used caliper which is around $20 or less from any bone yard. If you go get it yourself just check and be sure the piston retracts freely when you apply pressure to it.