So I was under there today looking at things, and I couldn't find any "soft spots" When my moms bf got home he looked at it, and we realized, the weld itself actually broke! He saw the disconnected stabilizer and said that because of all the crap roads around here, it must have hit at the wrong angle or something, because my frame is solid otherwise. It was undercoated like every year until 2005. I'm gonna get it welded (fuel lines are in the way, don't want to mess with that) replace the link and scrape away all the loose undercoating, sand down the rust, spray paint it, and then have the whole truck rust proofed with the highest level undercoating.
I'm thinking I'll either get it krowned or take it to metropolitan rust proofing.