* snipped for brevity*
The only thing in the entire setup that could be in question is the second 241, if it fails it will recieve a 271, but not before then. I had already built the 241/241 setup and ran it behind the 6.5/4L80 that was removed for the Duramax and the driveshafts were already built for this setup, so there is no reason not to see how they hold up. As I understand it is possible to limit power with EFI Live for when it's in double low range, so that will help as well.
The 271 is a stout piece, and would definitely stand a much better chance than the 241. The output shaft on the 271 is particularly impressive. It is 34 spline (well, the Ford version is anyway - the Dodge is a smaller wussy slip yoke ), compared to what I assume is a 32 spline in your 241. If you have the 241DHD from a Dodge Cummins app, then it will have a stronger 29 spline shaft. Here's a pic of the Ford 271 shaft next to a 32 spline output shaft (from a 205 in this case, but the 241 is the same diameter 32 spline):
It also has a beefy 1.5" chain, which is the same width as the 261/3XHD and 241DHD:
The possible bad news is that it would appear the front output is still only 32 spline, although I have never heard of anyone breaking it in either a 27x, 26x, or 241. Pullers and drag race guys seem to not have any real problems with them, but rock guys occasionally break the cases. I think that mostly has to do with the bending force caused by high driveshaft angles with lots of torque applied - remember these guys ALL run solid axles with a lot of articulation, as do you.
A bigger issue may be adapting it to your current 241 range box section. As it is, you will need a 29 spline Dodge input in the range box to mate to the Ally. The bigger problem is plugging your (presumably) 32 spline range box output into a 271. Even though 241's, 261/3, and 271/3's use the same planetary set, the latter case has a larger input bearing to accommodate the large 34 spline Ford input. You won't be able to simply swap a 32 spline 241 input into the case without some creativity. Maybe the 32 spline 261 input uses the same bearing? Maybe you will have to machine a sleeve? I have no idea. Also, if you do decide to mix and mismatch parts from these cases, be advised that early (before approx. 1996) 241 gears are not compatible with later 241, 26x and 27x planetary assemblies. Both the input bearing width and the gear helix angle were changed on the latter. These are obstacles you will have to overcome when your 241 bites the dust.
As for limiting the power in the ECM when in low range... I have no idea, but I know some sled pullers use low range, and I'm sure they wouldn't want their power limited. So, either the option doesn't exist, or they turn it off with a custom tune. In any case, you can always limit torque with your right foot
Finally, you won't be able to use the VSS in your 241 as your OSS into the Ally TCM. It will work right up until you put it in double low range, at which point the TCM will freak out. There's a couple ways around the issue: one solution is to run a 40 tooth reluctor and pickup on the trans output (pressed on the 241 range box input shaft) and either not connect the low range input to the TCM or reprogram the low range ratio in the TCM to 1:1.
You can make this all work, but be prepared to get creative. Speaking about creative, have you figured out how you are going to fit a suitably large radiator, IC, and the rest of the cooling stack in an S-10?