I use a bypass oil filter in combination with the standard filter and have used that system on many vehicles. It keeps the oil clean much longer and allows extended interval oil changes. I don't think it will make the Ranger engine last longer compared to changing oil every 3,500 miles but it will make the engine last longer if you want to run extended interval oil changes.
I ran my 89 Ranger 2.9L for almost 200,000 miles with this system and synthetic oil with 25K mile oil change intervals. The engine was as good as new when I sold that Ranger in 2002. That engine is still running strong today with way over 200,000 miles.