It's possible, but it's not as simple as just removing drive flanges and bolting on selectable hubs like your Waggy was.
Essentially, the conversion involves installing the spindles and outer axle assemblies from a 1996-2000 Tacoma. I think there are a couple companies that sell "kits" to do the job with everything you need. Off Road Solutions is one of them:
http://www.offroadsolutions.com/manu...onversion.html