Thanks to all for your replies.
I have a nut-splitter, but I'm pretty sure the restricted space will not allow me to get it up in there (the space is a couple inches from the floor and sandwiched between the frame and the inner wheel well--so barely enough space to get any sort of tool up there (what were the engineers thinking?); and then operating by lying on your back and reaching up through the maze makes it even more difficult).
I also have a vibrating saw with a metal blade, and I can get the blade on the nut and/or bolt, but not sure I can get range of motion to get through it all--it would probably be difficult/impossible to get a chisel/hammer or air chisel in there.
I also have an OA torch and have cut off many a nut and bolt; it may be possible to get the torch up there for applying heat, but cutting the nut without the hot metal falling on me positioned below would really be tricky. Fabricating a sheet metal shield with water applied to the wood and heating up the nut may be the best solution.
There is no rush on my end to get this done immediately, so I think I'll ruminate a bit more on it before diving in. Perhaps there are other Bolters out there who have performed this operation with the body of the suburban still on the frame--anyone who has replaced rear shocks on a 47-53 suburban must have dealt with removing the top nuts on the shocks.
Thanks,
Jim