*sigh*
Connect your computer, via HDMI, to the AV receiver. You shouldn't have much issue sending audio (in full surround sound) to the receiver doing this.
Then the OUTPUT of the receiver (that's the V portion of the AV receiver's name!) will carry video to your projector.
You will still need the HDMI to VGA adapter, but instead of putting that on the laptop's HDMI output, you put it on the AV receiver's HDMI output.
Then you can hook up other sources, however you may like, to the AV receiver. You can use a Roku, ChromeCast, game system, and more.
Be aware, that HDMI may carry some copyright protections. Your HDMI to VGA adapter may ignore those, or deal with those, but HDCP protection means that you shouldn't be able to play certain content using a analog connection like VGA. Sometimes this presents an issue. So, a display device (projector) with HDMI should correct for this problem if it occurs. It may be one of the only reasonable solutions.
Be aware, a used 1080p projector may be out there for around $250-$300 from a brand name. Most manufacturers have brand new 1080p projectors starting at around $500 or so.