4.88 agreed, regear the rear diff before you upgrade to the big meats, or you will kill the rest of the truck (transmission or clutch mainly)
For a 2wd you can expect to pay under $1000 to regear one diff ($500-900 depending) well worth it and required for 35's IMO. You will likely want to service/ overhaul the drum brakes while you are in there and if it was me I would grab a 31 spline ford 8.8 factory limited slip and have it rebuilt, use the LS carrier when you install the new 4.88 gears.
Stay away from el cheapo parts too, I personally have had good luck with Precision, Yukon, Ford and a few other gear makers but I have heard bad things about some of the others...
I am getting ready to replace the transmission in a 90 Jeep because the kid ran 35 MT's with factory 3.55 gearing and an automatic, I give it props the Auto 4 or whatever its called held up for 250K miles
Heat = kills transmission
big meat without gearing will take your engine and transmission gearing out of their powerband, the cooling system struggles, everything lags and dogs and it really takes a toll on your vehicle, not to mention the 8 mpg you will get when driving around town, and I hope you dont plan to pass anyone or get up any hills with 3.27 and 35's hahahaha
4.56 if your all highway, 4.88 is perfect for 35's, and 5.13 wouldbe wicked if you dont mind going slower on the street but faster on the trail (yes even 2wd can wheel a bit)