A few thoughts:
1. Here is a link to your owner's manual if you do not have one -
http://www.fordservicecontent.com/Ford_Content/catalog/owner_guides/98exdog1e.pdf
2. According to the OM, you need to add one 4 oz. bottle of FM to the oil.
3. You will receive many opinions on which oil to use. I use Amsoil in all of my axles, but you can pick up any 75W-140 synthetic axle oil at a local store. Mobil1, Castrol, Valvoline, SuperTech, any of these will be fine in your axle.
4. You will need 3 quarts (5.5-5.8 pints) of it.
5. I always used a new gasket and silicone to seal my axle cover after draining and cleaning the interior (there is bound to be quite a bit of metal "goo" inside).
6. I use a bit of teflon tape on the fill plug when re-installing it.
7.
Make sure that you can unscrew the fill plug before removing the cover (just to be sure that it is not "frozen"); a 3/8" extension and ratchet should suffice.
Hope this helps!