Hey Joe,
Sounds like you’re doing great at Latin, and are on the right track! This question of how to navigate a Latin sentence is a really good one to be asking.
In order to read any language fluently, you have to be able to understand the words in the order they come. Some teachers tell their Latin students not to do this - and I can see why, because often students don’t pay enough attention to the cases and the grammatical information that the sentence contains; instead, they just assume that the first noun is the subject, or whatever. But if you can train yourself to take the words in order, and recognize what the cases and verb forms are indicating, you’ll be in much better shape down the road. So here’s an example of what you should do with this sentence. Take the first “chunk”:
Ita praeclara est >
You know that praeclarus -a -um means “splendid.” The form praeclara could be either fem. nom. sg. or neut. nom/acc pl. The fact that the next word is est makes it extremely likely that the word is singular. So the first part means, “[Something fem. sg.] is so splendid…” Also, you know that ita is one of the little words that can signal that a result clause is coming. So you can already get an idea of what the overall shape of the sentence is going to be: “[Something] is so splendid that [something is the result].”
recuperatio libertatis
This is the next little chunk that goes together. recuperatio is fem. nom. sg., so it must be the subject of the sentence - the thing we were waiting for that is “so splendid.” libertatis is gen. sg. Now, something like 80% of all genitives go with some noun, often a noun that is right next to them; so you can safely take libertatis with recuperatio - the two together mean “recovery of liberty.” You could even draw brackets around the two words on the page, because together they form the “subject noun phrase”: [recuperatio libertatis] is the subject of the sentence.
ut
You were expecting a result clause, and here is the ut which marks the start of the result clause: “So splendid is recovery of liberty that …”
ne mors quidem
Yes, you’re right in recognizing the ne … quidem construction. Also, mors is nom. sg. so it’s the subject of the result clause. The verb will have to agree with it, and be singular (and feminine, if it’s a form that shows gender); it will also have to be subjunctive, as in all result clauses. “… that not even death …”
in hac re
We don’t get our verb yet, but that doesn’t need to confuse us. This next little chunk also clearly goes together: “… in this situation…”
sit fugienda
Finally, the verb. It’s 3rd sg. fem, just as we expected, because it agrees with mors. You can recognize that this is the future passive periphrastic (or gerundive of obligation, depending on what your book calls it). You’re right, this conveys the idea of “must.” However, remember that it has a passive meaning: “… so that not even death should be fled from / avoided.”
And now we can put it all back together and make the English sound nice: “So splendid is the recovery of liberty that not even death should be avoided in this situation.” The final translation should be in good, natural English; if you can’t say it naturally in English, then chances are you haven’t fully understood the Latin. But the key to everything is reading the Latin and understanding it in the order it comes; that way, you’ll come to appreciate the order of the Latin words - which is not random - and the subtle ways they emphasize and contrast things.
Hope that helps, have fun!