Hardest thing to lighten on a huffy is going to be the frame. You might be able to shed some weight with smaller chainring, rear sprocket, crankarms, and cutting your seatpost down. But there could be a laundry list of issues with any of these.
- Changing a chainring on a huffy that was not made for madular/aftermarket part swapout and replacement won't work with anything but huffy. If you have a 3 piece crank, you are in a better position to try something, but now there are other points to consider. The aftermarket cranks are mostly all designed to work with sealed bearings in the bottom bracket. Huffy does still use cupped ball bearings in some of their rigs, and the two are not interchangeable.
- Cutting the seat post down is only good for an ounce or so (ounces add up) but in the overall scheme of things, hard to make it worthwhile.
- Going to a light-rim (double wall) may help, but make sure the drop-outs on your frame can hold the axles on those aftermarket rims.
In short, there is not much that can be done with a huffy due to the fact they are made like tanks for department stores, and mass produced for cost. You will end up spending more on parts than what the Huffy is worth just on getting lighter rims.
I hear where you're coming from. I was running a 37 pound Volume flatline a few years ago. Changed the rims, cut the seat post, dropped the pegs to only one side, took off front brakes, replaced the chainring, and ran a better chain. All that (cost some money too) and it saved me only a few pounds.
