Knowing what we know about the rings why would you just replace only the troubled one? with the risk of the others failing? and not all rings? Hell at that point you might as well rebuild the bottom end, because everything is apart at that point anyways. What you suggest sound kind of half assed. My mechanic told me that 9 times out of 10 the ring eats the motor in these cases and has to be replace. Just like mine was.
This is a bit of an extreme case but I am curious as into why everyone is automatically jumping the gun on getting an entirely different motor in this situation. OP may be able to tear down the engine (while still in vehicle mind you) and remove the one piston and depending upon what is seen there may not be much needed. The piston could still be completely fine, the cylinder may need some minor honing and a set of piston rings and a headgasket kit he could be on his way for sub $500. I know I've been at the receiving end of both light failures and catastrophic failures but it's free to tear into the engine and SEE what's needed and assess the value before spending a fortune on something that maybe unnecessary.