You'll be fine doing that. The other lower arm will keep it from rotating. You might need a rachet strap or something similar to move the axle to get the bolt back in though.
1999 Sport, 4.0 5 Speed, 2.5" RC Lift, 1.25 body lift, MML, JKS Quicker Disconnects, Super35, 4.56 gears, Ected locker,33x10.50x15 BFG KM2's
1999 Sport, 4.0, Auto, 2.5 RC lift, 1.25bodylift,MML,JKS Quicker Disconnects, 33x10.50x15 KM's
2011 Sport, Auto, Terraflex Leveling Kit, 285/70-17's