Yes. Plenty of write-ups on the net on doing this but it's a pretty straightforward job, you just need to rent/borrow a steering wheel puller and lock ring depressor tool to get those items out of the way.
You might consider going to the dealer (take your title/registration with you to prove ownership, as they should ask) and have them cut a fresh ignition key to original code for your truck. Then pick up a new cylinder (you don't have to get it from the dealer) and have a locksmith code it to your fresh key, instead of the ones that come with it.
That way if you're ever SOL for a key you can have the dealer cut one again and know that it will work.
Or, just have a bunch of copies made of the new keys that come with the new cylinder and skip all that dealer mess.
Since you're a 92 model it's not like you have to worry about it matching the existing door locks like 1995-up would.
Richard