It can be done cheaply
Here is what I did on my truck(and a lot of friend's trucks). I emailed the tech. support people at Clippard Minimatics, and came up with this switch:
http://www.clippard.com/store/display_details.asp?sku=TV-2S
The switch is threaded with 10/32 ports. I had some 3/16" brass 90's that I threaded to 10/32. I used one of these 90's in the side port of the valve. For the port that comes straight out the back of the valve, I used a piece of 3/16 steel brake line that I threaded 10/32. You can buy the 90's from Clippard also.
I then pulled the vacuum hose off of the barb connector that is on the firewall and goes down to the transfer case. I used another straight piece of 3/16" steel brake line to connect this(transfer case) hose to a piece of 3/16 vacuum hose which I ran into the cab where I mounted the switch. I also ran another piece of hose from the barbed fitting(vacuum source) into the cab and to the switch. I used this hose(vacuum source) and put it on the side port(90 degree) fitting. I ran the hose from the transfer case to the port that comes straight out the back of the valve.
After you mount the switch and plumb it, all you have to do is remember to turn the switch off(vacuum off) BEFORE you shift into 4wd low, and you will have 2wd low range. I have used it quite a bit to back up the TT and save on the clutch, and it seems to work great. The switch is small and inexpensive, except for the $10 handling fee. Last time I bought some, I got 10 of them to help offset the handling fee(still have 4 left). If you wanted to experiment, they also sell a valve that is a two position (exhausted) that would appear to provide you the ability to shift from 4wd to 2wd and back again. With the above mentioned switch, once you turn the vacuum on, it will stay in 4wd until you shift the transfer case back to 2wd(that's why it's important to turn the switch off before you shift the transfer case to 4wd low). The nice thing is the whole set up is relatively inexpensive. I think between the switch, the brake line, and the vacuum line, I had less than $20 in the whole set up. Sorry for the long post, but I just thought I'd share what I did and what works (inexpensively) for me.