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I guess this is for ur 49. The other thing u might consider is just buying a muncie or saginaw tranny with electric overdrive which bolts right up and wud actually work.
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That's been thought of. Check this out:
www.gearvendors.com Another thing you could do maybe is set up a Powerglide 2 speed in front of a Muncie, and have the Muncie rigged like a divorced transfer case, with a short driveshaft connecting them. I wouldn't want to try to figure out the clutch arrangement or the balancing of the engine!!!
Just buy a Gear Vendors overdrive and your Muncie will become an 8 speed manual!
Something like this was done in the past, and it was a good idea. It was a two-speed rear end. This was sold as a kit that could be added to a car, but is no longer available. I do not remember what they called it.