It's just money but... sure it's all possible. Gut the engine, trans, drop box, axles. Fab up new engine mounts, new cooling system and hope it all fits under the cab. Drop in the new engine. Trans combo (programmed together, add the axletech transfer case, with its new mounts. Cut brackets off the axletech 4000's fab and weld on new ones. Also remember the at4000 come in two widths and two gear ratios know which to get. Mount the axles, get rims that fit them as the budd rims won't. Now figure out new drive shafts and due to the longer engine trans transfer case figure out how to deal with the steeper drive line angles. Next up adapt the steering to the new axles. Finally wire the whole thing up and adapt or replace electonics. Install compatible gauges, build custom exhaust, and in sure there is a ton more.
I would do the same if I had the time, equipment and money. But would the cost justify the airlockers, the maybe 11mpg, the true transfer case? I'd drive the truck a bit first and see if you really need The upgrades.
Ive thought about this a lot, but after driving mine, and seeing how little room there is under the cab, will be hard pressed to fit anything bigger in.