You'll soon know what's the weak link when you hit it hard w/a transbrake. I've even had rear wheels rotate inside the slicks- never did it using a foot brake, so it was definitely hitting a LOT harder. This was a BBC 396 in a Gremlin, BTW. Not making a ton of HP or anything.
Most things when they break won't necessarily have you into the guardrail. But a couple areas that CAN cause trouble are fluid loss, wheel studs, C-clips and U-joints/yokes. Seems like a good time to upgrade the wheel studs (if needed) and to get away from C-clip axle retention if that's what it has now. Might also want to think about installing an NHRA approved d-shaft loop. Those things will help to keep it from going WAY bad if they let go.
In any event, it sounds like it's going to be an exciting ride! I know my buddy like to have s--- himself when the wheels came up the first time- something else the car hadn't done off the foot brake!