Get that other caliper and both hoses replaced. Also clean, inspect and repack those wheel bearings. That kind of heat will destroy or severely weaken the seal and boot in the caliper, the brake hose, the grease seal on the bearing and will thin the grease out and damage the bearings. Give the rotors a good look, too. The heat may have damaged them as well.
Use an abundance of caution here. These are old parts abd brakes are pretty important.
1986 SE Aero coupe.
3.4 DOHC swap is complete and running, now just have to finish the rest of the car...