The easiest/only practical way to get it legalized is to wait until 2018. All cars are legal if they're at least 25 years old.
It would not be ok, because you still need to prove that the Japanese Supra will perform identically to the US Supra in a crash. Since the steering wheel is on the opposite side (but the engine compartment is not completely mirrored), odds are it will not.
Read this:
http://reviews.ebay.com/ebaymotors/H...00000006110167
It is about the Skyline, but almost everything in there applies to every other JDM car as well.
You may as well just forget it.
edit: You know people who have imported them ILLEGALLY and still managed to get them registered. This is done either by lying about the VIN, or by finding a DMV that either doesn't know or doesn't care. This also opens up the possibility of being denied any sort of claim denied if your insurance company finds out.
http://www.nhtsa.dot.gov/CARS/RULES/...elig050108.pdf
If it isn't on that list, it isn't 25 years old or older, and it doesn't qualify for "show and display" (a Supra doesn't), it cannot be legally imported.