I used a housing out of a fox. I cut the brackets off the tubes with a grinder with a cut off wheel on it, followed with a grinding wheel to clean up the left over weld. The tubes are an odd size, I think 2.875". I used perches made for 3" tubes. The Mustang leafs use a smaller pin than most perches come drilled for so I welded them up and drilled them smaller. I set the pinion angle the same as the 6cyl rear end I pulled out. I think 3 degrees down? To convert to 5 lug look here. I bought 2 Ranger axles mentioned in the link from a JY and everything went together perfect. You can redrill the 4 lug drums to 5 lug or buy Ranger drum. Fox and SN95 housing are the same part so I swapped axles and brakes from a 95 to get rear disc. I used the yoke and companion flange from the 95 and had a 50.25" driveshaft made with 1330 ends.
The brake lines are different on the 8.8. The 8.8 soft line is center mounted, instead of offset like on early Mustangs. I used a stock 67 soft line and made hard lines to run to the calipers. I would probably drill and tap the tube and use a stock early model vent to secure it. I have not hooked up e-brake yet so I can't help out there.
You can also put 9" ends on the 8.8 and ditch the c-clips. I have not done this yet, but it is planned. I have heard that 9" axles are the same spline, but I can not be positive. Most the major axle companies sell 9" ends and axle for 8.8's.
The traction lock can be beefed up by adding an extra friction disc. There are threads on most Mustang forums that discuss it. Basically the stock set up has extra steel plates stacked together and you eliminate one of the steels for an extra friction.