Looks like you need a new one, or a person very good at welding. WHere the nut is missing it looks like rust has corroded long enough to make the metal too thin and weak. Not to mention evidence of the person who removed it hacking into the flange to cut the nut off.
I'd take it to a trusted exhaust shop and have them hack that off and weld on a new flange.
*edit, actually it probably would have been plenty strong enough, and could use a new nut, if the edge wasnt hacked off. That bent down lip that is missing used to give it strength.
[This message has been edited by 2.5 (edited 01-31-2014).]