Before you do anything to that car I would suggest assessing the entire car. Read a lot of restoration threads. I do not believe it would serve you or the car to spray anything under that car until you have a proper plan in place.
Unfortunately a lot of people, (not saying you) buy these cars and try to just clean them up and flip them for a quick easy profit. Some shoot underseal all over everything hoping an uninformed buyer who does not know better will see that and think it is in like new condition. For me, it raises red flags, making the car possibly less in value unless the underside is properly prepared for new undercoating first and there are a lot of pictures documenting the entire preparation before any new products are applied. If you look at the complete restoration threads you will see what others have done to properly prepare a chassis for new underseal.
If I recall your pictures the underside of your car looked really nice. I would consider dropping the suspension and have new rubber bushings, ball joints, tie rod ends, strut inserts, maybe caliper rebuilds, new master cylinder, soft brake lines, new SS gas lines, soft gas lines, have the actual suspension components powder coated, have hardware replated and then clean the underside of the chassis with a mild cleaning solution and a soft brush before putting it all back together. It's a slippery slope.