I don't see why not, the cost of the axle and then the bracket kit is the big cost.
everyone uses a d60 axle usually and them aint cheap. If you run a d44 you need a knuckle, them can be bought fdor $270 or buy some old used flat tops and have themmachined. Same goes for a dirt cheap 10 bolt gm axle, use 44 flat tops or buy the new knuckles for it.
thoise require a ps drop t-case which you can find a np241 from a burb or whatever squarebody from like 88-91 or something, or use any other old gm but loose vss. That can be fixed with an aftermarket gauge, or you can get a pulse generator or something which can get pretty complicated and in depth, so best bet np241 with vss. fab crossmember, t-case runs around $250 on ebay.
factory old square body driveshafts work, tons of old squarebody stuff can be used to make it work and be cheap including spring hangers.
IMO buy some old or even new spring hangers from lmc and weld them to your frame, weld the front on or to a piece of rect. tbuing.
That saves a ton right there, cheapest kit I saw was like $400 and up.
you can use stock rear squarebody springs to get like 4 inches of lift and be cheap, or even buy new ones or front lift springs.
I am going to do mine much as described and it's gonna be cheap.