Like Crafty said, as long as you use the t-case drop kit you'll be alright.
The 4.2L should be able to turn 33's. What gears are you running in it now? I'd run at least 3.73 or numerically higher gears. If you go SYE and CV, you'll have to measure for drive line length and you will need a new shaft if you go SYE. Drive line length will vary depending on each individual rig so your on your own on that one.
Here is a great drive line measuring guide from Tom Woods.
Hey Crafty....what size tires you runnin these days?