Overflow boxes can be bought used for as little as $20. IMO you are taking a huge risk with this setup, and your failsafe plan is for the pump to run dry? What happens if the power goes out? Your water drains to the bottom of the overflow tube possibly overflowing the sump, then the siphon breaks. Then the power turns back on and the pump sends water back to the display tank until that overflows, the sump empties, and your pump burns up from running dry. So to save $20, you're willing to spend $20 when the pump dies?
There are places where you can get away with cutting corners in
SW, but this is not one of them, you are asking for trouble.
As for what to put in the sump, equipment,
live rock, if you have a
refugium then a deep sand bed and some macro algaes.