I like where this is going!
If you haven't yet, be sure to check out this thread of Pirate, this guy did everything you said you'd like to do: tons, 40s, cantilever rear, low, etc etc
1 Ton 4Runner | Pirate 4x4
For axles, I suggest Superduty axles, they are driver drop, high pinion, and cheap.
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1999 4Runner Limited - 5VZ, 4wd, Factory E-Locker, Multi-Mode, 5-speed swap, Armored, Icons, 295s (
thread)
2001 Tacoma Xtracab - 3RZ, 4wd, 5-speed (Daily Driver)