Gears aren't something most backyard mechanics can do. With alot of reading and preparation, down time, and patience though it can be done.
Most ppl don't have all of the above, so I recommend taking it in to a shop. Not knocking on your abilities, cuz I honestly don't know, but that is the norm. Its a pretty precise process.
You can save alot of money if you take the axles out of the truck beforehand, then take those to the shop doing the work.
I took my 8.8 in and my D35 up front in and had them both regeared @ 4.88's for about $1225. That includes parts and labor. They also did ALL new bearings and seals while it was apart. $500 of that was parts.
If they were to have to take them out of the truck, it would easily be up around 2k.
I'd suggest a MINIMUM of 4.88's for you. If you do any kind of wheeling at all, I'd rather see you go with 5.13's, as Ranger trannies are notoriously high/steeply geared and you'll appreciate the extra grunt.
PS, the guys over on therangerstation.com know more about our trucks, that is, Rangers in the 1993-1997 bracket (with the twin I beam suspension).
True 6" lift, SJ brackets-coils-leafs, JD RBV/EB Buckets, Bilstein 5125's, Lock-Rite Front, No-Slip Rear, 1-ton SuperRunner Steering, TJM T13 bumper/winch, 10" LED, 33x10.5 KM2's, Bolt on Thread http://www.therangerstation.com/foru...ad.php?t=75235