You can use the stock Explorer shock mounting plates instead of cutting a bunch of stuff off, and welding on new shock mounts. That way, it would all bolt together, and you'd be able to keep the rear sway bar.
I think you'd need 2 passenger side Explorer shock mounts though if you want to keep your Ranger shock configuration. Or, you can run the stock Explorer shock configuration if you install the frame crossmember that they bolt to.
This is why I asked how it was lowered earlier. If they just flipped the shackles for a 2 inch drop, you'd probably be better off flipping them back to the stock position, and then installing the Explorer axle in a spring-under configuration. You can always lift the rear a bit with the shackles if you need to raise it up. Flipping your shackles back and/or installing lift shackles seems a lot easier to me than sacrificing the ability to run a rear sway bar and cutting and welding a bunch of stuff on your axle housing.