That should be fine.
The 1997 and earlier 4.0l OHV have a pressure regulator on the engine but need a RETURN fuel line from engine to gas tank, so 2 gas lines
Also your 1985 fuel gauge needs a specific OHM reading from gas tank float/sender, Ford change it in 1987, so only a 1986 and earlier will work with your gauge
You may want to look at a 1986 2.9l Fuel Pump assemble, it will have the return line fitting and the Lift pump to feed the high pressure pump, but I think these are hard to find
And not sure if it fits the 1985 tank
You should be able to plumb a Return line to the top of the tank's assembly using a 90deg fitting and I would install a hose on the inside that is long enough to reach bottom of the tank so fuel just doesn't spray out
Return line is low pressure(under 3psi) so barbed fittings and connections are fine to use