Q. Is it the frame?
A. Sometimes. In the case of an Early Bronco, it is the frame. In the case of other vehicles, it is the body. In the case of motorcycles, it can be the engine. So you will get the incorrect "answer" here...because you asked a super generic question about a very specific legal definition. For the 1980+ Bronco, it is the area of the sheet metal immediately attached to and surrounding the VIN plate tag, which is visible thru the windshield on the Driver's side. For your 1978 Bronco, it is stamped on the Frame on the passenger frame rail near the starter. There are a couple of "Rating Plates" on the 78-79 that have the vin number on them, but those rating plates are not the vin. On this forum you will see the term Data Plate, or Glovebox tag for the Early Bronco.
Q. What is to stop me from swapping license plates?
A. It is unlawful to swap license plates. People do it all the time to cheat on registration. The only thing to stop you is law enforcement. What stops you from doing anything illegal? It is the threat of prosecution.
Q2. What is to stop me from calling the body's swapped?
A. Nothing. You can swap bodies all you want. Nobody cares if you swap your tailgate, hood, fender, door, bumper, or whatever. Swap bodies all you want. You can jack up your radiator cap and park another Bronco underneath it. Call it what you want. The only thing that matters is that right front frame rail, and anything reasonably welded, or riveted to it.
Q3. What are the laws?
A. Start with 18 USC 511, VIN tampering. Its a Federal Statute. That should be a big enough felony for you. There are various state laws as well. But you have asked about violating several different laws. One was VIN swapping, and one was License Plate swapping. Totally different illegal activities. Plate swapping is covered under CVC4463. There are also various statutes regarding False Statements to Officers in the event that you present your registration paperwork to a LEO. And plenty of Fraud opportunity pertaining to insurance. But why in the world would you ask that in a public forum?
Keep in mind that if you ever get involved in an accident, or if your vehicle is ever impounded for any reason...there is a high probability that you will not want it back. CHP is pretty ruthless when removing tampered VIN's, and the vehicle can be considered to be evidence during your prosecution. There is no remedy that enables you to reclaim your property if you did in fact alter the VIN.