With a sawzall and a welder, anything can be done.
The drive shaft may need to be modified, both in length and in the rear yoke end. The parking brake and Hydraulic lines could be modified to work. If this isn't your daily driver, it may be worth the effort to try it.
Another option is to look for used 3.55 or 3.91 gears in a wrecked Dakota 4wd. I've found a few of them in the self service yards...CHEAP! I got a 3.55 gear with a clutch type Sure Grip for $70 and put it in a Duster. The axle guy I use did the swap for under $100. Thats FAR less trouble than fiddling with a different axle.
The 8.25 is a decent axle that can take a fair amount of power, especially when behind an automatic. Keep us informed!