I think it would become a dystopian fantasy.
Remember, at the same time that the Iranians are still holding the 80 American Embassy folks as hostage. The US was also in what was termed a "National Malaise". With FALN violently attacking both major parties during an election, the combination would have been viewed as war against the US; regardless of lack of connection between events. The cynic in me would see great internal pressure to crack down on any Hispanic or Middle Easterner within the US as a result. ( OTL, loyal Iranian Americans suffered increased discrimination and abuse during the hostage crisis.). While FALN was specifically Puerto Rican in focus, you could imagine conspiracy theory would pull in the Cubans, any other other "Red" connection, Columbian drug cartels, and anyone looking Hispanic.
There would be a great deal of pent up, near impotent fury, while investigators sorted out the details. Somebody is going to get pounded.... hard... i.e. "Remember the Alamo", "Remember the Maine", "9/11..." As an outlet valve, I could also imagine that the Iranian hostage crisis heat up real quick - Bring them home today, by whatever means necessary ....
I don't see this playing out well at all.
