You have an idea on the ride-heigth, so that could be a starting point in the frame design you'd need to ge it down on the ground. By z-ing the frame, both forward and rear you can get the center section as close to the ground as you want. You can build a frame with rectangular tubing or modify the origional frame, that's another choice for you to decide.
How much of the origional "49" do you intend to use in/for the final build?
Hows much money do you want/intend on putting into the finished product is an other question for you to decide.
With the size tires you want to run and the space between the bottom of the cab and the ground, you definitely will end-up with a tunnel running from the cowl to the back of the cab, no question. The tunnel would probably be one of the last things to make, after the running gear and cab is all set in place.
Suspension, both front and rear is next. Which way do you want to go with that? Normally, it's leaf springs, coils, coil-overs or air bags.
After you get a frame, suspension and tires under it, what engine and tranny are you going to put into it? Now is the time to decide and get it installed.
Steering is the next thing. What and how do you intend to manuver the beast up and down the road? This question might be decided when you think out the front suspension too.
Brakes are of utmost importance. When thinking up the suspension, brakes can figure into that plan too.
From about this point on, you have a wide-open book to work on and it's all up to you, which way do you go about the plumbing, wiring, lighting etc etc etc...
Taking on a complete build or a highly modified existing vehicle involves a lot of "think time" and can make or break the project. Think it all out, over and over, but one step at a time and it can be obtainable. Do a lot of reading, expecially on this web site and you can find a lot of answers/ideas to play with your mind. Your enthusiasum (?) will no doubt go up and down, you just have to stay at it and in time, you can do it. Ask a lot of people a whole lot of questions.
GOOD LUCK
BE SAFE