You said you have a Chevy 4 speed, Can I assume that you also have a chevy engine in place? If so if you are trying to utilize the stock braking system of the bug eye you are howling at the moon -
Extra horsepower+extra weight= Increased braking demand - I suggest at the very least you go to all wheel disk brakes - The little bugeye drum brakes weren't designed to stop a car with the added weight & power of a chevy mill - Ideally I would rethink the chevy powerplant, however sexy it may be -
Again, I assume that the front suspension has been beefed up or replaced with much heavier duty units? How about the little old differential back at the rear - Definitely not designed to take any more than about 90 horsepower, let alone the axleshaft which have a nasty habit of ringing off when subjected to a heavy right foot even with only the stock horsepower - Mines a 67 Sprite and it's packing a whopping 67 horsepower ( That what the specs say anyhow)
As for the rear brakes locking up - Check to see if the flexible hose that runs to the junction block bolted to the differential is in good shape - after years of exposure to brake fluid the inside of the hose can swell almost shut - It will let fluid through to the rear brakes under hydraulic pressure from the master cylinder but will not allow the pressure to release under the meager pressure exerted by the return springs of the back brakes. What you get is a sort of "Non-Release valve". Having to release pressure with the bleeder screw makes me think of that.
If your master cylinder bleeds down at all, under any circumstances theres only a couple things that can be happening - There is either air in the system, in which case the pedal will be spongey all the time, or The seals in the cylinder are shot and allows hydraulic pressure to leak down, particularly at stop lights, holding on a hill, etc. - I don't see how lengthening the push rod will make a difference.
The pedal box in you car will probably work - but you need to cut it out a bit as one other sprite guy noted in the last thread.
Lastly, If this car is set up correctly to handle a chevy engine, suspension, beefed up rear end, etc, it's obvious you've spent a quite a bit of money on it - Do yourself a favor, if you don't do another thing upgrade the braking system so it'll stop you effectively when it becomes necessay - as it always will, otherwise your relatives will be spending some of THEIR money separating you one last time from what remains of your Sprite.
I apologize if this seems like a gloomy prognosis, but if you read these threads there is one concept that is in just about any serious discussion of these nice little cars - The safer the car is the longer you'll live to enjoy it.
Hoping to hear from you for a long time to come - keep us posted.
Bob M.