Wow, first post here in months (years?).
I toyed with the idea, seriously enough to buy a trans, make a couple pieces to make the spud shaft stronger, and tinker with the mounts. I think it could[/0] be done, albeit not exactly as in the article. The mounts would be extremely complicated. You'd spend more in steel and fab time than a 4x4 trans would cost you. Even if you could get it together, the chances of it being a grenade are better than average.
The only practical, marginally insane way to do it would be to run a divorced NP205 (just because it's easily available) behind it with a stubby shaft similar to what's in the M37s and M715s. But, with only 92" of wheel base to play with, you'd probably just transfer the grenade tendencies to your rear driveshaft. Unless of course you want to spend mega bucks on whatever Cornay's latest and greatest is. This is one of those situations where things are typically done a certain way for a very good reason.