I will be very surprised if you get that spot weld to break loose. I would use an electric cutoff tool with a thin blade on the tool. You are going to have to carefully cut the weld at least partially through. After you get some groove into the weld, then a air wrench might be enough to get the rest of the weld to crack along the cut line.
The other alternative which might work better, if you can get a replacement nut, is this. You can use the cutoff tool to slice through one side of the nut, as close as you can get to the thread, without cutting into the thread. Then you should be able to use a large cold steel chisel and a sledge hammer to finish breaking the nut enough that you can get the nut to come loose.
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