Not a total loss, but it's going to take a little bit of work. For the password, contact iTunes Support and let them know you can't access the email account but need the password reset. You will be asked for a lot of information for security purposes. After the password has been reset, go to http://appleid.apple.com and choose "manage account". After signing in select edit next to "AppleID and Primary email address" and change that to an email account that you have access to. The email address that you change to cannot currently be an AppleID and you will more than likely get a verification email before you can use it.
Hope this helps.