I'd straighten them in a press. But, you need to be sure of the chucking accuracy as well. A 5/8 screw 36 inches long is fairly flexible.
You might get away with using a hydraulic (or mechanical) jack beneath something heavy (like your car). Cut some vees in some blocks of hardwood or aluminum to keep the part from getting away on you. Rotating the part in the vees is a better way to determine straightness than chucking it in a lathe chuck.
Place the supports about 4" or 5" apart (at most) and press midway between them. Work your way along the screw, to remove the bends gradually. If you have your support vees too far apart, you will create a series of "dogleg bends" which is two bends with a third bend in the middle that is really nasty to figure out later
First you get good, then you get fast. Then grouchiness sets in.
(Note: The opinions expressed in this post are my own and are not necessarily those of CNCzone and its management)