Pretty standard deal done by hundreds (thousands?) of rodders over the rears. Basically just parts replacement for the axle, spring, and shocks. The steering arms will need modification for the tie rod to clear the front yoke. You might need some help getting the perch bolts out, they can be in there very tough. Don't try beating them out, probably after you've soaked it with penetrating oil. You'll ruin the perch bolt, and frustrate the hell out of yourself. The best thing to do is use a 30,000 (give or take)# press. Wear safety equipment.

Between the spring and axle you'll get approximately a 3" drop, not exactly "In-da-dirt", but better than you've got now.