WCKaner,
I think the idea is very sound. Plumbing the splitter utilizing the existing pump could be easily accomplished.
The only things that would have to be verified would be the output of the pump and its pressure setting.
I would guess the pump would make 1500 psi without much trouble. Measure the lift cylinder and compare it to the splitter you intend to buy.
If the truck will lift the bed in an acceptable amount of time, it will extend a similar size cylinder in the same time. Boosting the engine RPM would boost the output GPM and shorten the cycle time of the splitter.
A very cool project. Do some E-bay shopping, and you could get by on a minimum budget..good luck.
Stuart