Hmmm....... does that 2.8 have a 2 piece rear main, or a one piece? From you needing the jack I am guess it is a one piece, and so the Trans has to come out. I am sure it would work for that.
Honestly those little five speeds aren't that heavy. I pulled one a while back, and just dropped the TC, and lowered it by hand, and pulled it out by hand, and then turned around and did the same thing with the transmission. LOL