Riaan
"...as cheap as humanly possible"........means you will be using a DC Motor & Controller..........AC Motors & Controllers are not cheap.
Also you will be building it "clutchless" vs the more expensive "clutched" design.
The voltage (number of batteries) of your system will depend on what speed & range you hope to achieve. Basically low voltage = lower top speed and lower range. Higher voltage = higher top speed and higher range.
Using that Microbus you have plenty of room for batteries. And again basically higher voltage = more batteries = higher cost.
Heres an example you could look at:
www.evalbum.com/2843
Also bear in mind that whatever voltage you choose for your battery pack....the "onboard generator" must match that voltage. You can't charge a 120v battery pack with a 12v generator.