Nice bike.
I'm not sure what kind of help you're looking for, though. Are you asking if it can be done? The answer is yes. I'd have done it by now myself. Except that I just can't bring myself to pay that kind of price. Monarch's aren't cheap. Instead I just use shock absorber forks from cheap mountain bikes. Plus a drum brake front wheel.
Your bike is a Huffy Panama Jack or something like that, isn't it? I have a high opinion of those Huffys. But there is one thing to warn you about. I've heard that the chain stays sometimes break just where that factory luggage rack welds on. You might want to reinforce those junctions.