Serious Rust

I washed the lumina today to find that the rust below my doors is getting out of control :shakehead . I don't know what to do!! http://files.automotiveforums.com/gallery/watermark.php?file=/503/455507100_2110.JPG Is there anything I can spray on to stop the rust from spreading? As you can see, here the rust has gone through the metal. Another Question: What effect would wax have on this?would it help, harm, or neither? I generally try to dry that spot as soon as possible and keep wax away from it. Does anyone have a suggestion? Is there a GOOD way to repair this? The rust is on the area below the rear doors. I've also noticed a bit in the trunk as well as the rear wheel wells. HHHHEEEEELLLLLPPPP MEEEEEEE. Please.

Is that the rocker panel? About all you can do is either stop the rust, fill the area smooth, and repaint, or find replacement rocker panels, stop the rust on the floor pan roll, and repaint.

Is that the rocker panel? About all you can do is either stop the rust, fill the area smooth, and repaint, or find replacement rocker panels, stop the rust on the floor pan roll, and repaint.
Bummer. It is the rocker panel. Wouldn't replacing the rocker panel require welding the new one in??? Sounds like a lot of work. When I get to it, I'll probably have the rust cleared out, the panel filled in and repainted. Thanks for the response!