sorry but that definitly isn't gonna happen, i've owned 13 cj's now and this only my second ranger. How expensive is it to lift a 2wd ranger like this to a reasonable height tho, i know lowering could be done on the cheap
I don't exactly like the idea of a 302 because the cj already has a monster in it. 360 bored .30 stroked with a 401 crank 750 holley double pumper fenderwell headers and yada yada yada
a 2/3 drop can be done for about $400-500
A 3 inch body lift can be done for $150-200
a 2/3 inch "Spindle" lift can be done for $400-500 (Doesn't really increase suspension travel of the truck, just increases suspension static height, lifts the tail with blocks normally
a 5-6 inch suspension lift is like $700 or so IIRC
a 4-5 inch suspension drop is like $700 as well.
the 4 banger in your ranger will not like big tires/lift, it will kill its economy and power. I'd do a 2/3 drop and call it a day.