I think the first reply on Pirate nailed it. Imo 40" tires and avoiding BGTL while staying off the Scary Steering page (8-10" of lift is automatic BGTL) makes for a good amount of time and money spent doing it right. Even turbocharged the 6.2 cannot and will not pull 40" tires in the fast lane without melting itself from the inside out. Which leads to an engine swap, which leads to a transmission swap, which leads to an axle swap--you'll want nothing less than a D60 and 14bolt with the appropriate gearing installed. The cost of tires alone is going to be a killer and most of them do not have that long of a lifespan on the highway. Is it possible? Absolutely. Is it practical? Its up to you and your needs.
I am far from a Ford fan in fact I hate them all, but you might consider finding a coil sprung Ford Excursion. You'll have a much easier time fitting those tires plus they come with a great coils sprung front end, appropriate steering and they already have an engine that will power all of it. Just a thought.