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If you can get a rear end for that car that is geared right you could go without the transmission and with luck brake even on parts required as I imagine that a transmission is going to cost more then the proper geared rear end, you end up saving weight and space by having the motor hooked right up to the drive shaft.
As much as some people will try to stand in your way when it comes to cutting up a classic car, it seems like the gas tank on a TransAm is going to be huge too so cutting in to the floor and putting a battery box where the gas tank was to shift some of the weight to the back is going to be key to keeping the car balanced and handling properly.
I didn't find any TransAm's on EValbum.com that were finished and on the road to get an idea of watts per mile, but looking at other cars of that general size, shape and weight, it looks like 400 to 500 watts per mile (twice what my car uses) so a set of 20 T105 flooded golf cart batteries would give you a 50-60 mile range.
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