It depends on how you have your bump stops set up in addition to your wheel width and backspacing. Bump stops are probably one of the most over-looked, yet important components for determining what will fit with how much cutting.
Assuming your springs aren't too stiff to use all the compression travel you have (bad), your axles will compress until they reach the bump stops regardless of whether you have 2.5" or 5.5" of suspension lift.
It is easy to determine where your bump stops need to be with coil suspension, just take the springs and shocks out and cycle the suspension with the tires mounted. This way you can cut until the tire clears at all points and steering angles in the suspension cycle, or extend the bump stops when you don't want to cut anymore.
With leaf springs, things are a bit more difficult since the springs also locate the axle. The best way to trim/place your bump stops is to remove all the leaves from the leaf pack, leaving only the main leaf. Then you want to bolt it to the axle with a spacer so that it is close to the same thickness as the assembled leaf pack. now the axle should be located correctly, and the springs will be really soft allowing you to cycle the suspension easily. Here is a picture to help illustrate what I am talking about:
Now, the easy answer to your question: yes, you shouldn't have too much of an issue running 35" tires (assuming they aren't really wide) with a 2.5" suspension lift and 2" body lift. You are going to have to cut a fair amount though. My father ran 35" tires on 15x10" wheels (unsure on backspacing) with 3.5" of suspension lift (no body lift) and it worked well enough. He had to cut a fair amount from the outer fenders (Bushwacker XLs in the rear), as well as a good amount from the front inner fenders. He had to trim/massage the pinch weld corners of the rear wheel tubs and relocate the fender brace on the leading edge of the rear fenders. He was also running factory-height bump stops, but he had pretty stiff springs (Superlift) which compensated for that to an extent. Here is his Bronco to give you an idea what that combo looked like:
Here are some pictures for a better ide on the stance with and without a hardtop:
Regardless, getting your bump stop height dialed in is critical if you actually wheel your rig hard. It is nice to not have to worry about shredding your expensive tires or wadding up sheetmetal.
