the 700 is a longer trans, you will need a shorter driveshaft in the rear, longer one in the front.
You will also need to get a TV cable kit, and adjust it correctly after its all installed, if its not installed correctly, you will burn up your 700 quickly.
If you are using your stock tcase, you might need an adapter, the 700 and T350 output shafts are not swappable, if you are using the tcase that came with the T350 it MIGHT bolt up, check out NOVAKs database about that...
Adapting the 700R4 / 4L60E to Jeep New Process / NVG Transfer Cases
Adapting the TH350 Transmissions to Jeep Transfer Cases
and (because its about identical to a 700):
Adapting the 4L60E Transmission to Jeep Transfer Cases
And the TV kit:
OR, since you are runnign a 5.7: GM engine, hit up Pick and Pull and get one set up for your engine, If you are running a carb, 82+GM trucks, and if TBI 86+GMs (you might have to change your carb throttle linkage to one with the TV hookup)