Mike,
Brake Fluid Procedure:
1. I agree that SpeedBleeders make the job much easier. Otherwise it requires two people. I assume that you already know how to bleed the brakes. You should have about two quarts of brake fluid on hand. This will be enough to allow for one or two mistakes. Do not mix DOT 5 fluid with DOT 1-4 fluids. I use Valvoline SynPower semi-synthetic fluid.
2. With a turkey baster, remove all the brake fluid you can from the master cylinder. Clean the reservoir as well as you can with a CLEAN rag. Do not leave lint, threads, or anything else in the reservoir. Don't spill brake fluid on anything. It will remove paint. I use rags around the master cylinder and on the fender to catch any stray fluid.
3. Bleed each wheel until clean fluid comes out. DO NOT ALLOW THE MASTER CYLINDER TO BECOME EMPTY. It's easy to see when the fluid is clean if you use a clear plastic tube inserted into a clear jar.
4. Refill the reservoir. Pat yourself on the back for a job well done.
5. Keep in mind that brake fluid collects moisture and goes bad over time. Change this fluid once a year or so.
Power Steering Fluid Procedure:
1. Jack the front wheels off the ground and support them with jack stands. Disconnect the negative (ground) wires from both batteries. This will prevent the airbag from deploying in case a sensor gets jarred. Disconnect both the supply and return hoses from the power steering gear. Position them in a bucket. Start the engine and run it only until fluid is no longer flowing from the lines. Do not run the engine with the power steering pump dry (no fluid).
2. Reattach the hoses to the gear. Refill the power steering pump as much as possible. You won't be able to properly fill it without running the engine, but allow some time to elapse between top-offs and it will eventually get mostly full.
3. Run the engine again for a brief time while slowly turning the steering wheel fully right and left. Top off the power steering pump. Repeat as needed to top off the pump. This will not only get the reservoir full, it will also pump some of the dirty fluid from the steering gear into the reservoir.
4. Repeat steps 1-3 as many times as you want to ensure that the system is flushed with clean fluid. I would guess that you will require about two quarts of fluid for each thorough flush you perform. I've never done this procedure; when I flushed my system, I was installing a new gear so I didn't have to flush the gear itself.
5. When you are satisfied that the system contains clean fluid, top it off as described above. For this filling, be sure that you have turned the steering wheel from full right to full left at least a dozen times. Check for foaming/bubbles in the reservoir. Wait until the foaming subsides and top it off.
6. Drive the truck a short distance, turning the steering wheel from full right to full left. Top off the power steering pump again if required.
7. Carry power steering fluid with you for the next 20-100 miles just in case you need to add any later. Check the fluid level every time you start your truck for a while. There may still be some air in the system that will work its way to the reservoir.
Good luck,
Loren