Also, put a turbo head on it, and get one from a 85 or 85. That head will lower your compression, supposedly by half a point, and I think fel pro makes a head gasket spacer that'll get you down by another .3, so in theory you could drop down from 8.9:1 to 8.1:1 which is very acceptable for a turbo. Also, the earlier head is less prone to detonation, which is a big plus, and the turbo head will have the turbo cam, valve springs and the turbo exhaust valves.
I think 91 was the first year tbi's got the turbo fuel pump, so you'll need to swap fuel pumps. Find a wiring harness from a turbo car, try to get one of the same year/model as yours, or at least as close as you can. A 87 and earlier harness can't be made to work without also changing your dash harness. Make sure you get a 2.5T1 computer, which was only available on 89's and up. You'll need to plumb coolant/oiling lines for your turbo.
As far as boost goes, keep it computer controlled and run at stock t1 levels and you should be fine. If you lower the compression like I said above, you could go higher in boost, but the higher you go, the more you take your engine's life into your own hands.
And you didn't say what trans you have. If it's a 5sp you should be fine, though a n/a 5sp is not ideal. If you've got an auto, throw a huge trans cooler on it and mount it up front right behind the large opening in the nose. It'll cool best up there and look like an intercooler.

That'll help, but I'm still not sure on how long the stocker automatic will last. If it blows you could always swap to 5sp or put in a auto from a turbo car.
I think those are the main points to worry about, other than that it's a matter of rounding up all the parts.