Assuming you have a 4-door auto, you will start with a nominal 1210kg car. Swap to manual gives 1205kg.
Not as heavy as many people think (Australian spec 240z is 1030kg, C110 is 1130kg)
Before getting too far into it, do check out classes and types of events.
Regularity class events give all the opportunity most people want unless they REALLY want to be the next Craig Lowndes.
Also keep in mind that in two years this car is eligible for classic competition, including road events.
A combination of regularity, navigational rallies and events like Duttons, Classic Adelaide etc is a real blast.
Much more fun to be able to drive hard legally on roads you would usually get booked for.
I wouldn't put in a full cage, as desirable as it may be as that would take the car off the road (illegal on the street most states).
A good roll bar with rear braces, remove the rear seat, add good anchorages for street legal (ADR compliant) full harness belts both sides.
DON'T change the class of car to two seat just 'cause of the belts - if ever challenged by a cop show him (politely) the lap/sash belt mounts and explain that when not being used or prepared for comp the rear seat goes back in as do all the standard seat belts, the harnesses come out. Yeah, right!
Anything other than an L24 is going to class the car as a modified, and if not an L6 then it's Sports Sedan with attendant $$$$
OK, a 4-door is somewhat less than attractive but it's a good place to start.
Get it working well with good brakes, decent suspension and a hot L28.
You really don't need a stroker. Big $$. A good triple Weber L28 will fry any tires you care to run including R class.
Stick to no less than 5 inch 125mm ground clearance and if using it on road add 3mm minimum aluminium skid plates under engine and gearbox.
Learn to use it to it's best, find out what sort of competition you really like.
If you want to continue after a couple of years, hunt down a hardtop.
Switch everything to it (same wheelbase and mechanically identical) and you can run something unusual without spending a fortune.
If you want something different, the C210 Skyline taillights bolt straight in, so does the grille and front trim.
It won't be as quick as a 240z but it will be a lot easier to live with. Not as hard to drive quickly either!