You will of course need to support the body/shell in the appropriate points in order to make sure that whatever support the rotted out frame-rail supports, when it goes away as you attempt to replace it, does not jeopardize the structural integrity of the rest of the chassis.
For the most part you're going to have to deal with the heavy items, such as engine still in the car, therefore K-from being the heavy part, etc.
Take a look at the attached Alignment Deminsions page out of my 1980 FSM. At the very least it will give you some good reference points as far as distances between a flat floor and various body points.
The 'Side View' in particular would help you make sure no parts of the frame sag or lift in response to you taking out a chunk of the frame.
My thinking though is: as long as you do not take the chunk out and then leave it for some weeks/months, it'll probably be OK. Just do some reference measurements before you start, do them again when you're about to weld-in the replacement stuff in-place, then do them again once it's all done.
View attachment 44184