Thank you for all the replies. The list below is my chose answer project:
1.)Install Electrum
2.)Use Linux( although I'm not much familiar on Linux, I will use it since the laptop sole purpose is for air gap laptop. I like the offline update)
3.)Use QR code to scan wallet address
4.) Definitely
Important note to myself: I will backup seed phrase outside the laptop. I'm planning to use washers that I saw on one of @Fillippone thread.
Thanks again everyone.
Topic: [SOLVED]Setting up my AG(Air Gap) Laptop (Read 129 times)
1.) What Bitcoin wallet will I use to generate seed phrases offline using the air gap laptop?
If only seed phrase, You can download standalone iancoleman bip39 seed https://github.com/iancoleman/bip39/releases/tag/0.5.4 and running it after reinstall your OS. which mean you can running it in many wallets you want, and not specific like electrum seed wallet2.) How can I maintain my laptop functionality since I don't have the option to update my driver?
Better for you install Linux OS where the update (security) is not necessary like windows3.) How can I transfer funds from my Air Gap Laptop to my external wallet without the internet or at least a way to safely transfer it?
You can sign in without the internet, after sign, keep that files then broadcast it to online on many wallet or website.4.) Is this worth it?
Yes, for long time investment. 
1.) What Bitcoin wallet will I use to generate seed phrases offline using the air gap laptop?
Electrum wallet is a good option, but you can also use Sparrow wallet as alternative, both are open source wallets.There is third option to generate seed phrase manually and calculate last word, but you don't need to go that far if you ar3 doing this the first time.
2.) How can I maintain my laptop functionality since I don't have the option to update my driver?
First you should buy new hard drive or format old one and install latest Linux operating system, Fedora, Debian or Mint are solid options.You don't need to update any drivers for Linux, but you can do offline update every year.
It's important to keep seed words in safe place written on paper or metal, so you can easily recover your wallet.
3.) How can I transfer funds from my Air Gap Laptop to my external wallet without the internet or at least a way to safely transfer it?
Easiest way is by scanning QR codes for transactions, you need to have working camera and secondary device like your smartphone.4.) Is this worth it?
You wont have any financial benefit if you are thinking about that, but you will have better security if you set up and use everything correctly. 
Using a very old laptop for important thing is not safe. It can have technical problems anytime and with such old laptop, you will have big trouble to find items for technical fixing.
Rather than using that old laptop, you can use a USB stick and Tail Os for your wallet.
How to Install Tails OS on USB flash drive for Wallet Purpose
Cold-storage mobile Electrum wallet
I found one old guide topic about air-gap wallet.
[Guide] Secure air-gapped crypto wallet storage method
Rather than using that old laptop, you can use a USB stick and Tail Os for your wallet.
How to Install Tails OS on USB flash drive for Wallet Purpose
Cold-storage mobile Electrum wallet
I found one old guide topic about air-gap wallet.
[Guide] Secure air-gapped crypto wallet storage method
I do not advise you to use that device, there is a possibility that the device will crash at any moment, and such devices will work on old Windows OS.
If you want to send to one of your friends, how will you enter address to that device? Bluetooth? USB? The device is old and may contain some HW bugs in addition to the possibility of the device collapsing at any moment.
It may also be slow, try to make sure of the condition of the device and a test to fulfill the minimum requirements of wallet software and to work stable.
Why don't you buy USB and try to make it as (Air GAP) it's cheaper and there are rarely viruses that are transmitted at core level and work between several operating systems.
If you want to send to one of your friends, how will you enter address to that device? Bluetooth? USB? The device is old and may contain some HW bugs in addition to the possibility of the device collapsing at any moment.
It may also be slow, try to make sure of the condition of the device and a test to fulfill the minimum requirements of wallet software and to work stable.
Why don't you buy USB and try to make it as (Air GAP) it's cheaper and there are rarely viruses that are transmitted at core level and work between several operating systems.
Usually people would use QR Code and camera/webcam to transfer unsigned and signed transaction.
I will also suggest using QR code which is safer than USB stick, NFC and Bluetooth.@AbuBhakar
But you need to always check and recheck the address that you are sending to, make sure it does not change while creating PSBT (I mean unsigned transaction). Be always careful of your watch-only wallet, always avoid malware, despite having a cold wallet for signing transaction.
1.) What Bitcoin wallet will I use to generate seed phrases offline using the air gap laptop?
Electrum and Sparrow Wallet are good option since both are open source and support sign transaction on offline/airgapped environment.
2.) How can I maintain my laptop functionality since I don't have the option to update my driver?
If current driver let you operate/use your laptop normally, there's no need to worry about it. I would worry about whether how long your laptop hardware would remain operational. You might want to make multiple backup of your wallet on different location.
3.) How can I transfer funds from my Air Gap Laptop to my external wallet without the internet or at least a way to safely transfer it?
Usually people would use QR Code and camera/webcam to transfer unsigned and signed transaction.
4.) Is this worth it?
Yes, especially if you have decent amount of cryptocurrency and always perform good security practice.
1.) What Bitcoin wallet will I use to generate seed phrases offline using the air gap laptop?
I will also suggest you should use Electrum.2.) How can I maintain my laptop functionality since I don't have the option to update my driver?
You mean to keep updating it? Not necessary to update it until there is a need for it, just to be using it to sign a transaction.If there is any need for update, you will update it the way you first send the wallet to it using a new or formatted card or flash, using a clean device to download it.
But you do not need to update it until the version can no longer sign a message.
3.) How can I transfer funds from my Air Gap Laptop to my external wallet without the internet or at least a way to safely transfer it?
Read this:https://electrum.readthedocs.io/en/latest/coldstorage.html
4.) Is this worth it?
Cold storage wallets are always worth it. They are the safest if you get the security right.
question (1). Electrum is a good option.
question (2). Its very easy to maintain your laptop functionalities all you have to do is act safely, avoid malwares, don't click on links, don't connect to the internet.
Question (3). Creat the transactions on you online account, transfer it to the offline account for signing, then transfer it back to the online account for broadcasting.
question (2). Its very easy to maintain your laptop functionalities all you have to do is act safely, avoid malwares, don't click on links, don't connect to the internet.
Question (3). Creat the transactions on you online account, transfer it to the offline account for signing, then transfer it back to the online account for broadcasting.
I recently recovered the old laptop that I'm using in college when I visit my old room when I'm still living with my parent. My laptop is very old but it's functional when I turn it on. I have a sentimental attachment to it because I use it during my college days for research and watching ....
I'm planning to convert it to an Air Gap Laptop to become useful again. I'm always read Air Gap as a suggestion to have a secure Bitcoin wallet so I'm trying it myself. I already backed up my files and planning to reformat them with a fresh OS. I knew the basic procedure such as removing the Wifi and Bluetooth driver. After that, I don't know what's next. I list below the question I need help with.
1.) What Bitcoin wallet will I use to generate seed phrases offline using the air gap laptop?
2.) How can I maintain my laptop functionality since I don't have the option to update my driver?
3.) How can I transfer funds from my Air Gap Laptop to my external wallet without the internet or at least a way to safely transfer it?
4.) Is this worth it?
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