A friend of mine ran a similar engine, 150-shot of nitrous, with a TH350/3000-stall converter, Dana 44 w/3.73's and 40-inch Boggers, in which he cut every-other "tooth". It was all in a IH-Scout frame, with no body.
The limiting factor might be your trans. Trying to shift up-or-down while in the slush is impossible, without your tires coming to a complete stop. If you're racing, you'll lose time. If it's just for having fun, you'll be fine.
Automatics are good at compensating for track conditions (dry/caked/mud/slush/etc.). For standards, once you're in gear, you're pretty much in that gear the whole run. Forget about power-shifting an SM465...I've tried that in my 3/4-ton running the 1/4 mile drag. Snapping the input shaft isn't a "beautiful" sound.
