Tranny first gear combined with rear gear help

the car is minitubbed and will be running 350/50/15 et drag radials...I know my car makes more power than a stock 302, but my buds mustang II is faster than my car....I know everyone says T5's cant handle power and such, but they can as proven by the 5.0 mustang crowd (many of whom have stock t5's living behind 500hp)...The more traction i get the more parts i will break, but we'll just have to see what happens...im more concerned about what i asked in my original question on the combination of the gearing in the tranny and the rear