Need to add on electrical service

[oil pan 4]

I have a 200 amp eaton br serries main panel.
The bottle neck is a 1.25 inch conduit that goes across the back of the house that is unbelievably over stuffed.
Originally I believe the only thing in that conduit was the air conditioning power and the range power.
Now its servicing: central air, electric range, shed, 120v 30 amp power for the garage and improper wire going to the out building.
Need to keep that and add up to 100 amps worth of welder power for my miller dialarc, a 240v electric car charger, solar power inputs, 240v power out to the shed and well pump power.
So I was thinking I would remove the junction box, pull all those wires back out install a QO 125 amp 24 circuit outside panel where the junction box was. Put a 125 amp breaker on the eaton main, run 2 gauge wires through the 1.25 inch nipple, then add a conduit or 2 to the sub panel to relieve the over stuffed 1.25 conduit condition put the new stuff in its own conduit.
I might leave 1 or 2 circuits going back to the main but that might over fill my 1.25 sub to main conduit more than 40%.
An electrician would want a few thousand to do this.