Lots of looks, but no answers.
I'll toss in my
The original drivetrain, frame and suspension was designed for low speeds and heavy weights over uneven terrain. It didn't accelerate, steer or brake in a way I'd consider safe out on modern highways.
To make it into a 1 ton tow vehicle, I'd suggest getting a late model heavy truck chassis and mounting that body on it. That would make more sense than changing the steering, brakes, drivetrain, and living with the current suspension or trying to update that too, especially if you want to lower it.
By the time you are done, you will have changed everything but the frame, and that will require major modification to handle all the other stuff. A complete swap will be engineered to work together too.