Been done many times, I am sure there are threads on it
The biggest hurdle seems to be that the NV3500 is physically much larger than a 727/904/833 so the trans tunnel is going to need some modification to make it fit.
At the end of the day I have heard people warn to not do it because it is a "truck" transmission but based on what I have seen, most people who have actually done it end up pretty happy with it. I am not sure if how much aftermarket support there is for the nv3500 to give it cleaner and shorter shifts.
Not sure how strong it is as far as how much HP it can handle but i would guess it all depends on how you drive it. Ive heard of people putting Jeep AX-15's behind LA block v8s and making them live by driving carefully/not racing them.