This looks like a job for the Saint Sheldon Pass Around Tool (SSPAT). Chase the threads and install a new BB. A couple of options here in MH's shop, What I think is a Chorus 109 standard BB or an Athena cartridge type at 116. I am not sure about the change in chain line but the 116 is probably long enough for lock rings on both sides. Lemme know, Smiles, MH