<VV> Fuel injection question

[Cash Case]

I have a couple of throttle body injectors from a mid 90's Cavalier.  
I want to put these on my Corvair. Now that I have enough money to  
continue on this project, I'll start up again.
I've had adapters machined, but I need to control them. It looks like  
the MegaSquirt unit is pretty expensive. I am thinking that I could  
just used the ECU from a cavalier. I don't know which wires will need  
to be connected and which ones can just be truncated, but I expect to  
find the answer to that eventually.

My question is, will I need the ECU (Engine Control Unit) or the ECM  
(Engine Control Module) or are these two thing actually the same thing?

Using throttle body injectors I expect to need a O2 sensor in one or  
both of the exhaust manifolds. Maybe switchable so that I could check  
both sides rather than just assume one side is good.
The air flow sensor is in the throttle bodies correct? There are only  
a couple of wires coming off them. I think I recall a red  and a  
black. A connector that I assume is what connects the ECU/M whatever  
to the air flow sensor.

I'll go get a Cavalier repair manual tomorrow.
-Thanks for any help-
-Cash