Yes lots of things are possible, but here is the easiest and simplest route you can go. It won't be "cheap" unless you stumble across a rare deal, but brakes and suspension components are not a place to skimp on the dough anyways. The '36 spindles are weak, and they do not work at all with a disc setup. They do make an adapter to run hydraulic backing plates on them, but I don't trust it. I personally would never run them.
Whether you want to run drums or discs you will need a set of '37-'48 spindles. '37-'41 are the "roundback" style which are more desirable and therefore more expensive. The '42-'48 are "squareback" and while less attractive, they are interchangeable and work just as well - also more affordable. Either one will work on your '36 axle, and when you install them you should always replace the kingpins and bushings as well.
As far as actual brakes go, while the disc kit may seem pricey it is probably your best option as a beginner. It is all new, easy to install and maintain and provides better braking. It comes with instructions and when someone is in your shoes that means a lot. Don't take offense, but you are obviously very green and early Ford brake systems while simple, require a lot of maintenance and some getting used to.
That being said, if you do want to run a early Ford hydraulic drum setup you will need '39-'48 backing plates, hubs and drums. Also not cheap - even after you buy these pieces for X amount of dollars you will still have a couple hundred bucks in new wheel cylinders, shoes, hardware and hoses. Those old drums get expensive fast! All necessary expenses, so as you see either way you go it will not be "cheap".
Personally I prefer the look of drums and I enjoy fussing with them. Some people don't and that is fine, because I would rather them be safe on the road rather than hurt themselves or someone else with something they are either unfamiliar with or a cobbled together mess...
