I don't know where you live, but if your finishing up your baseboard heat you must be concerned about heating expense. Your aluminum frame windows are over 30 years old and if heating expense is an issue, you might want to consider replacing the aluminu frame windows as well.
If your not in a cold climate and heat loss doesn't make any difference, you can re-woodwork the openings.

Please respond with more information.

The Porchguy

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Thanks for your reply. We live in Southern California and heat loss is not a big concern (normally). In fact, the opposite would be the case. I'd still be interested in re-woodworking the openings and even replacing the aluminum frame windows. I'm pretty handy but I'm not a contractor and am hesitant to replace a window frame solo. At one point I had measured one of our window openings and had a vinyl dual paned frame written up, but got cold feet when it came time to special order it. Anyway, please tell me what you think and thanks for your help.

Kylee,
DO your windows have sheetrock on both sides and the top with a wood sill on the bottom. If yes I have an EZ plan for you to consider - done it a hundred times.

If not, describe what you see in the interior of the window openings.

What is the measurement from the edge of the sheetrock to the aluminum frame window (about 3")?

Artie

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Yes, your description is accurate. Drywall surrounds each window with nothing else. Basically a whole in the wall, 3" from sheetrock to frame is also accurate. The wood sill on the bottom I need to look at, but I'm pretty sure you're spot-on. I can provide exact measurement from edge to frame if necessary. Thanks again for your help on this.
Kyle