You will need LOTS of money first of all. Alcohol presents special problems you need to deal with to be able to run it. First of all, you will need to tear down your engine and replace ALL the seals with ones that will survive the destructive properties of alcohol (that is IF you can manage to find any for a bike that old). You will also need to re-gasket your carb with alcohol resistant gaskets. THEN, you will need to have your carb specially modified to flow alcohol. Since it burns at approx 6:1 ratio vs gasolines 14:1 air/fuel ratio, it burns roughly TWICE as much alcohol as gasoline. The carb need to be specially modified to flow all that fuel. THEN.....you run into the 5-10 dollar a gallon cost of the alcohol. Oh, by the way.....you will need to find someone that makes a pre-mix oil that is compatible with alcohol.....not an easy task.
If you have any money (and sense) left......then you can go racing a two stoke on alcohol.
One more thing....alcohol is corrosive to aluminum. If you don't flush your engine out after you run alcohol thru it, you will find the the alcohol that remains in the engine will attack the aluminum and form a white cruddy residue. This will plug up your carb and who knows what inside your crankcase.