I tried the 85L for sports like you are doing ( wrestling) under same circumstances and I got the 85 1.8 for those needs. Its only $300 and it does a great job. Its not going to give you a ton of help with the sensor that you are using. For its time the 1D3 was a great camera but ISO tops out at 3200 for just about everyone that I know who used the body.
If you shooting indoor sports a lot Then I would consider a body Update. The 1DMKIV is going to et you to 6400 so only another stop, But that Might get you from 1/400 to 1/640-800 for shutter speeds as you will gain a stop in both directions when you are shooting at F/2.0.....Trouble is your going to be at F/2.5 to keep to in focus most of the time so really only 1/2 stop in aperture over what you have
With all this in mind, you can get by with the 85 1.8 but I would definitely be entertaining a camera update. On the 5D4 and 1Dx2 sensors you could use your 70-200 easily and be framing stuff because you will gain 2 + stops ISO performance over the 1D3....that give you a lot of options
personally I would be updating the body to a 5D4 sometime soon if you do this alot
and for the 85 debates...I would use the 85 1.8 or if you can afford it, Then the Sigma 85 Art is killer for these sport needs. Fastest AF performance from of all of them that have been mentioned
hope this helps