i had a 3.0 v6 in my 2000, which is the same truck, with the stock hood... however, it was yota clipped and hood cut a little on the underside bracing.
I have a 2.5" Z and 2.5" body drop with the 3.0 V6...if you get an edge hood you still have to drop the throttle body down (I haven't done mine yet), A couple guys I know have made a bent tube that drops the throttle body down and moves it to where the A/c pump used to be...I know PMA motorsports in Michigan can make you one...they made one for Ryan from VC with the yellow Ranger that was featured a couple months back in MT