My first thought is that while it might "work", the main section of the drive shaft is still very short. A SYE allows for a longer drive shaft by moving the double cardan closer to the t case output. Since rear drive line issues on lifted Jeeps are such a problem going back to day one, I don't see the point of a double cardan with a slip yoke. Unless you are suddenly getting cheap with a stretched wheelbase.
That's the one, i see the problem with the driveshaft tube being short . Just need to bite the bullet and get a sye put the transfer case back where it belongs. Thanks guys