Cal,
Nice pictorial on the 'fix'. I've been through this time and again with my solid axle rock crawlers. The only part that needs upgrading is the very bottom of the cover. This is the part that drags on the rocks, especially with that big AAM axle hanging down. I suggest grinding off about 1/8 of an inch along the bottom of the cover so it's not the first thing to drag. I've tried thicker covers, and the best solution for me was a cover with a built in cage along the lower half. Of course, most of the time for you, you'll be moving forward before the hit, so a cage is not necessary. The other winner was something called, "The good stuff", a space age goo for your cover plate. Very flexible.
jefe
'01.5 Dodge 2500 4x4, CTD, Qcab, SB, NV5600, 241HD, 4.10's, Dana 70/TruTrac; Dana 80/ TruTrac, Spintec hub conversion, H.D. susp, 315/75R16's on 7.5" and 10" wide steel wheels, Vulcan big line, Warn M15K winch '98 Lance Lite 165s, 8' 6" X-cab, 200w Solar