It depends when it smokes. If it smokes just when started up for a few minutes or all the time. You say smokes alot, so I would imagine you mean rings. If your looking to do a cheap rebuild. Have the cylinder checked to make sure its not ovalized and hone it yourself and get a new rings. The right way would be a piston,rings, sleeve if availible, otherwise you may have to get a jug. Just remember to coat the cylinder bore in oil before reassembly.