Although building your own saw can be rewarding, it is tough to do. If you want to experiment in saw building, I would start with something less expensive than an 066! This is especially true if you don't have somebody who knows what they are doing to help you. There is no way that anyone can explain the process of buildling a hotsaw to you over the internet. You will need access to machine tools, or know somebody that can do the machine work involved with porting the cylinder, and making the head and manifold. I have made the mistakes, and am in the process of paying somebody who knows what he is doing to sort them out. I'll bet I'm not the ony one on this forum who has done that. (anybody else want to fess up?) I have a couple of old homelites that I work on to learn about modifying saws. I will leave the work on my good race saw to somebody who knows what is going on.
If you want to race, try to find a used hotsaw that is already set up. If you can't find one, go to somebody who knows racing saws and have them build you one. This will save you time and money in the long run. I had the chance to buy a mostly completed saw from a good builder, but I didn't. That was two seasons ago. I fooled around with my own creations for those two years, when I could have been racing a better saw, and learning how to run it. I've spent as much on my mistakes as that saw would have cost.
I don't want to talk you out of racing, it is great fun, but I believe that you will have a better chance of staying in it for the long term if you go into it with you eyes open. Keep going to the contests and asking questions.
Good luck in your racing, keep at it.
P.S. Are you sure that you don't have a Gilles Levesque chain?