I'm not all that confident that the idea of building it into a wheeler will be what gets it picked. This particular Wagoneer does not contain a drivetrain that is well-suited to that at all. It has a very heavy motor and a 3-speed manual on the column with a D27/53? combo. I think that a lot of things could be done with it, but that would require full gutting and the kinds of mods we'd do wouldn't really be backed by the Woodward crowd.
The market appeal of the vehicle back in 1965 was that of a 4wd family station wagon. Don't forget that the vehicle itself was concieved as a replacement for the Willys Utility Wagon. I think the "custom family cruiser" idea is really what is going to work best.