Wow...fabulous save Mom! Is there a label? Is it handmade? If it is antique do you want to use it, sell it, maybe get some professional advice? If so don't do anything before having it appraised.
Or, maybe you are like me and many others...fix it, keep it, use it and love it. Firstly I am no expert...however, if it were mine I would go over it thoroughly to see exactly where the problem areas are and mark them with safety pins. Now, the dirt part, is it "clean" dirt or "really yucky dirt"...dust and grime I could stand (therefore mend first), but anything else, probably not. If you wanted to clean it before fixing the damage you need to stabilise the worn/torn bits so once you have them marked, cut muslin or other non-coloured scrap and baste it with white cotton all over the damaged bits...make sure all your "marker" pins are removed and then it could be gently washed. I have successfully used this method on vintage clothing/eiderdowns and linens.
I would be very interested to see what everyone else would recommend. Please keep us posted and let us know what you decide. How exciting.