Twin I beam ranger will handle that speed no problem. It will be jarring every joint in suspension, and cooking your bearings, but I'm sure if you are serious about this that you already know that. Before running those speeds I recommend changing all body and suspension bushings, motor and tranny mounts, and new bearings with high speed bearing grease.
Poly bushings should probably be the only choice for your application. That is unless you want to replace them every other run.
so the jist of the story, yes, the ranger twin I beam is capable of 150 as long as its in decent shape. Heck, you wouldn't even need to lower it if it wasn't for the aerodynamics of the truck.
What are your plans for rear suspension?
And I imagine you've given aero a thought? Ive had my ranger with good suspension(stock height) at 100-115 and held that speed and it was doable, but not exactly stable. Lot of front end float. Rear end also hopped quite a bit. Whatever you decide for rear end, make sure its not to stiff or soft, spring rates will need some research before I would buy anything, that way you only have to buy them once