Originally Posted by
mikeybikes
At this point, I would just like a replacement 26 TPI bottom bracket and crankset. Of course, being 26 TPI it isn't exactly like I can go out and buy new stuff. I really didn't want to put much money into this free bike... I just want to ride it
You have a couple options. If you manage to get the arm off and salvage the cups, you can use a square-taper spindle and arms instead of cottered cranks. This would be your cheapest option, if you can salvage the cups.
Otherwise, a threadless cartridge bottom bracket such as that offered by Velo-Orange would also allow you to use square-taper cotterless cranks.
Finally, and most costly, you could use a Phil Wood cartridge bottom bracket with 26tpi rings.
N.B. I have heard that the Phil rings also work on some other BB cartridges, but I have no direct experience with this and don't recall what brand(s) were compatible with the Phil rings.