You need to decide something before anything else. Do you want what you had as a kid, or what you wished you had, as a kid? Keep it as original as possible, preserving the patina and history, or strip it and repaint it? Keeping the rad steering wheel? That's a cool piece of the puzzle, definitely sets the style of the build.
If it is your first project, I would suggest keeping it simple, take everything apart, clean and grease everything, learn about hubs, headsets, and bearings on the way, and put it back together. As you get to know the bike, it will tell you what it wants. Post pictures, progress, results, questions, people will chime in with help and advice
