There are plenty that have dropped a motor, trans and t-case completely still attached to the subframe, and I intend to do it in the same manner when it does come time to pull my motor.
For the purpose of doing what you intend to do, I see it could also be an easier method to do what you're intending to do, The sub-frame should drop out by removing 8 large bolts from the bottom IIRC. The wiring and hoses should have enough play to afford you a few inches of space to get the brake lines out. Pretty much, undo the sub-frame bolts, the left and right tranny/motor mount and get one of these to support it all:
At Harbor Freight, runs $60, and should be an in-stock item at your local store.
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Once all is supported finding 4 sturdy mounting bolts for the chains from the top, you should be able to drop it all down just enough to afford you the room to work. Of course, you will still need to undo the steering column to rack, but everything else should go easy.
That's how I would do it at least. Otherwise you figure you have to pull a bunch more stuff, including the transfer case, which can be quite a hassle to get back in place, especially if you're not using a lift and on Jackstands.