The inner control rod bolt can usually be left in place along with the rod end. Loosen the locknut that is against the control rod, unscrew the damaged control rod from the rod end, thread in the replacement control rod and attach to control arm bracket. Check alignment, hint - mark & leave the locknut right next to the end of the control rod so you thread the replacement rod to the same point, still should verify alignment as not all parts are identical. Tighten locknut.
Drink a beer, or go riding if you have snow.
This doesn't solve the rusted bolt issue, just kicks it further down the road, but... maybe you never come back to it down the road.
It's a good idea to douse these rod ends, and all moving joints on the suspension for that matter, with oil a few times a season, and especially right before summer storage to help prevent rust from taking hold.