Yes to Joseph. Yes to Nick, twice.
I probably made 20 runs with 32" Michelin MTX tires. They're crapier than BFG ATs. I later went to just 33" Swampers. That think went just about anywhere I cared to go. All I had was a 3" body lift. I was locked F&R though. I bought front half shaft and sold it with a second broken one, but they're really cheap in the grand scheme of things. I never broke the rear and was always able to drive home. I probably had 30+ outings on that 4Runner. On the other hand, it took me 3 years and upwards of $9k to build my Cruiser, and it's really not even done yet. If it were me (and I was in a college student tax bracket), I would put 33s on it, lock it as cheaply as possible, maybe add a cheap 8.8 just for added insurance on the rear, and wheel it until you wear those tires down to baldies. You'll have a lot more memories from that than months of looking at a project sucking it up in your garage.