Lookat summit specter has aliminum carb hats, you could run a donaldson type filter on a hose off the carb hat.. have seen several variations on this, look at off highway equipment some really good filtration systems... fj80 has a good cyclonic filter housing.. just getting it to fit under the hood...
I did when I first replaced my F with a SBC. It was a setup I'd built for the F, and its two 1.5" holes were inadequate for the healthy V8. The air whistled through the two tubes.
3.5" doesn't seem bad for the hat, but be sure everything afterwards is at least that big. Air under vacuum needs a far larger pathway than air under pressure.
I don't know the exact ratio, but your intake 'pipe' should be larger than your exhaust pipe.
I found a stock air cleaner was choking the motor with its 1.5" intake... going to an open element filter really woke it up. So just be sure you make you snorkel big enough if you plan to regularly use it.