Like Zach said, just get a body lift.
I used the performance accessories kit on my ranger and sport trac, but a lot of people use the summit kit. There is no need to worry about damaging any brake lines or anything with the body lift, everything is addressed during the install. Be sure to check clearance of the A/C line near the serpentine belt though.
What I did on my sport trac was have someone build me a front hitch that poked out through the opening in the bumper, rather than messing with changing the tow hooks. The advantage to this was being able to mount a winch on the front, maneuver a trailer from the front, and having a place to hook up a recovery strap that pulled from the center, rather than just one frame rail. The hitch bolted to the same spot that the tow hooks were. I bought a uhual rear hitch (tube style hidden behind the rear bumper) and had the brackets cut and drilled to raise it up as well.
If you search around you will find a few people on here who have made front receivers like this.