Your '53 6000 series truck is a 2-ton, not a 1-1/2. Not that its matters to your question.
Will it work? Sure. Will it be a lot of work? Probably.
The two motors mount quite a bit differently, so you'll have to frabricate some mounts.
The 292 will not mate to your existing bellhousing and the bellhousing from the '68 will not bolt to the bellhousing crossmember in the '53.
And you'll have clutch linkage issues and things like that to deal with.
It can be done, and its probably a pretty good swap, but its not just a bolt together thing, you'll have some adapting and fabricating to do.
