Oh......ok, it must be a Dyno-Glide then. I'll just say then that my Dyno doesn't accept a standard 1" or a standard 1-1/8" headset. So it's kind of hard for me to tell you what fork actually fits on this frame. I'm to believe it is an older cruiser type headset and fork that falls in the size right between 1" and 1-1/8" and that's all I got for you on that matter. I personally am installing an 1-1/8" threadless headset and a 1-1/8" Mtn.Bike suspension fork.
As for the doner bike from Walmart, I'm pretty sure you could adapt the seat, disc brakes, tires, rims and perhaps the pedals. I haven't seen the Wally bike up-close and personal so don't quote me on any of that. Sorry I can't be of more help.....I just like to fabricate and use a little smoke and mirrors and just make things happen. If it doesn't fit........make it fit