I want to increase my Carburetor size - any advice

My little 1.6L Corolla (1987 AE82 Sedan) lacks the power which I desire, now due to legal and financial limits I have as an 18 year-old driver, an engine swap is out of the question. My immediate thoughts are increasing the size of my carburetor as well as improving the air flow of the exhaust.

The motor currently in the car is the 4A-C motor (1587cc SOHC) the carburetor operates at a rate of 170cfm (2 barrel, electric choke) give or take. Due to the small displacement and low cfm it is difficult to find a suitable carburetor. My question is what be the effect of running a 350cfm carburetor?

Obviously I would need to increase exhaust size but are there any other complications that I am overlooking?

Any help would be well appreciated, thanks guys