1: The Cellamare Conspiracy suceeds
2: A competent commander leading the armies in the siege of Gibraltar, and the rock falls
3: Avoid Cape Passare at all costs
4: Karl XII of Sweden does not die in his campaign in Norway, so Spain advance the invasion plan because there is no death of Karl to delay it, they flee from the storms because of it, and the double invasion with the jacobite rebellion occurs and with the double invasion the rebellion suceeds (Indirectly leading to a Stuart Great-Britain

)
5: With french help and some luck, the spaniards won a decisive naval victory on the mediterranean, and in the aftermath captures La Isla de Menorca and also with french help Naples
6: France pressures Savoy into collaboration and Spain with France captures Milan, Parma and Tuscany
7: With France in Spain's side, the dutch definitely don't have the balls to enter in the war, just two in the alliance
8: In a Louis XIV-like campaign in the HRE, the french march into Vienna without a Blenheim-like victory. The ottomans renonuces the Treaty of Passarowitz and invades Austria.
The Treaty(ies): Spain regains from Britain Menorca, some island on the caribbean and Gibraltar, and secures on the throne the Stuarts. Gains Sardinia, Sicily, Naples, Tuscany and Parma on Italy. The northern part of the Habsburg Netherlands as well.
France gains the southern part of the Habsburg Netherlands (including Luxemburg), Lorraine and Milan on the continent. Regains Acadia and Terre-Neuve on the Americas, gains some island on the Caribbean and Maine (which was disputed territory between the UK and France)
With this, also has a chance for the Ottomans to get out of it very well. And as a "Thank you" for the help of Sweden in the UK, France and Spain intervene in GNW and secure the position of the Swedish Empire (perhaps with the Swedes gaining something in Norway, white peace with PLC and St. Petersburg/Livonia going for Russia and Prussia giving up of her desires on Pomerania with the french threat).
Now Europe is ruled by an totally imperialist Spain-France-Sweden Axis.