My biggest concern would be the frame. Is it strong enough to handle a V8, disk brakes, heavy suspension, etc.? I'm sure what you want to do can be done, but pay close attention to the frame. I'd box it whereever possible to increase strength and rigidity.
As far as the parts go, it's probably possible to mount late model stuff with a bit of fabrication. It's going to be harder to find off-the-shelf mod kits for that heavy a model, so you'll probably have to do a lot of it yourself, including figuring out how to get stuff to mount.
You might want to buy a trashed out late model 1 & 1/2 ton and use its parts as models to see what work you'll have to do.
