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Yes. I'm running that size tire on one of my '81 4x4's and they rub on the radius arm on a tight turn, but they do work pretty well. That's the largest size I'd go to and a lift wouldn't help since they hit the radius arm.
2wd may ride a little lower than a 4x4 though. I also ran 31x10.50 on my 80 4x4, and with stock rims they did rub the radius arms on tight turns. But with chrome aftermarket 8 inch rims they did not rub.
They should work fine on the rear. I have that size on the back of my 80 F150 2wd.
The front, might be a different story. I've never tried putting them on the front.....