8.8 rear end capability

From what I understand, the 94 rear is a bit wider than the 79-93 rears. Plus the axle splines might be different from the 7.5 to the 8.8. So no, the 7.5 4 lug axles wont go into the 8.8 from '94
 
What he said...a 94-95 rear is 1.5" wider than the rear currently under your car I believe. You will have quarter panel fitment issues.
And if it's your intention to remove the discs, pull the 5 lug axles out, and replace them with your 4 lug axles and drum brakes...leave what you got.