All the Alto schematics are available at Al Kossow's Bitsavers [1]. If you want to understand how it works, start with the hardware manual [2]. The Alto processor could probably be kept running indefinitely, since it uses standard parts that can be replaced. The monitor is more difficult; the Living Computer Museum made some new monitor boards for their Altos, cloning the existing boards. The disk drives are another potential maintenance nightmare; I wonder if it would be possible to build a flash-based disk emulator.
Making a FPGA-based Alto clone would be a possibility.