To be honest with that amount of damage if you really wanted to fix it why dont you fiberglass the full bottom of the boat!!!!
You could fill the cavity with the expanding foam stuff meant for filling boat gaps to give it some strength behind the cracks, then fibreglass the full bottom of the boat.
The only other worthwhile solution i can think of is if possible split the bottom skin from the top skin of the boat then you can get in to repair both sides, we did it before and it was simply riveted together and was easily split.
Check the wood bit at the back doesnt run inside the boat, i had an old dingy that the transom allthough wooden and exposed at one section was also inside the boat as well and was all totally rotten when i got inside the two skins. If it does you could benefit from seperating the skins to replace this as well.
The things that come to those who wait will be the things left by those who got there first.