Not familiar with the shelby type traction bar, but does it require removing the u-bolts from the existing perch?
If so, don't put the jack stands under the axle as the rear end will tend to lift off the springs and create a dangerous situation. I looked at the ones offered by Branda and couldn't quite tell for sure.
If you don't need to remove the spring perch, then all is cool with jacking. Either way you would want the weight of the axle on the stand before welding the front.