Answer: Replace it with modern components. It’s as simple as that. This is the perfect time to do it since your compressor has failed again. With many classic cars, originality is of primary importance, so owners are obligated to replace worn components with similar original components. Not so with your 1972 Torino station wagon in which staying cool is much more important. This allows you to take advantage of modern technology which is readily available, works better, and is likely less expensive than your original components. Since all of the major components of your A/C system have already been replaced, I would replace your failed compressor with a modern unit made by a company such as Sanden. It won’t look original when you open the hood, but it will work great and it will probably last the life of your car.
Any good air-conditioning service facility should be able to accomplish this with ease. Or you can bring it to any hot-rod shop. They install these systems on a regular basis.