Spindles will get 3" and it's the better choice.
Coils or coil spacers will get you 2" I believe.
Either way, the truck's gonna be alot taller in the front than the back. Best bet is Spindle and Chevy 2" drop shackle in the back that actually lifts a Ranger 1.5". Or bolting on a 2wd Edge 2" rear block or 08+ torsion bar truck 1.5" blocks and new ubolts(end cost of that will be more than the price of the shackles). Thus giving you an un-gay look. Unless that's what you're after.
'01 XLT disguised as a '03 Fx4 Level II.