My 92 240sx has been having some serious brake problems. I just bought the car not too long ago and the first time i took it out the brakes locked up. I thought it was because it was sitting for awhile. So i bled the brakes. After that they seemed to be ok, but yesterday i took it out and could hardly make it home. The brake pedal was stiff as hell, all 4 brakes were locked and there was smoke/steam rolling out from the wheel wells. Can someone PLEASE tell me what the hell is going on? Im thinking calipers? master cylinder?

You should pull all 4 wheels and check for free movement of the slides and see if the pistons will compress back into the caliper. I've heard it's pretty common for the rears to seize up though. Also if the the piston wont budge, try cracking the bleed screw and try compressing it again to make sure it's not the line causing the issue.
On a different subject, did you get the dash in yet?