there's a number of different options, for sure.
obviously, you'll need good tires, good suspension and a good launch, but to get low 12's
you're looking at 450+ at the wheels.
this is an estimate.
that's just beyond the safe HP limit of your rotating assembly.
You can push 400 and be fine. A good tune is the key to things not breaking.
bad Detonation can break any engine.
for 3K - I'd start with the PI's and cams, and go from there.
that will give you around 100 HP, and allow more gains from future upgrades.