Re: **replace rings...just take head off?** 45 chrysler
Playing with new rings is just going to waste your money and time. You won't be happy with the result--or lack of. Depending upon the gauge accuracy, 110 PSI can be acceptable. Since both cylinders are relatively equal, the engine is most likely mechanically sound.
Buy or borrow a manual--Clymers is decent-- and set everything back to factory specs. You can't get where you are going until you know where you are.
I believe the two cylinder engines have points set to .018 or .020 and you must be careful to set both equally since a very slight difference will change timing between cylinders bay as much as 2 degrees. Do not put too much lubricant on the wicks as this will come off and foul the points. You may want to replace the points because one set may have a weak spring and might as well replace the condensers too.
When I first started working on these engines, I had a 1967 Chrysler 55. I had lots of problems and thought it was the engine. In reality, it was me not understanding how the various systems worked together. 47 years laterI still have that engine.