Get a file/craft box that is deep enough for your baits to not hit the bottom when they are hung vertical. Get some threaded rods that are ~1 wider than the part of the box under the lip, get some matching nuts and washers and you're done. Use big snap/swivels as hangers. ~$20 to make.
I use one without the threaded rods and have the swivels attached to the lid of the box with zip ties, no having to cram by hands into a tight space.
SICK collection!