Toyota axle?

My buddy has a 85 4x4 toyota and is willing to give me the axle for a good price would this axle be durable enough the run a stock 305?

Yes. The Toyota 8" axles are surprisingly strong. Coming from an off-road background, I have seen Toy axles manage 39.5's. Mind you, they'd been built, but you get the picture.

what about gear ratio? i think im going to run either a th350 or a 700r4