First off, you need to soak that whole caliper in rust penetrant. Then, you might be able to get the bleeder screw out with some needle nose, and lots of heat.
You'll likely have to resort to using a grease gun to pump grease into the caliper to remove the piston. Then, a new phenolic piston from Godferrey is highly recommended, with a new piston seal. Be 110% sure that the groove is perfectly clean! and shiny. Assemble using brake assembly lube.
Also, remove and lubricate the pivot bolt on the caliper mounting arm. On the caliper, there's a small hollow locating pin to hold the pad, replace or repair that as well. All the bodies of these parts are aluminum, so they'll clean up very nicely.