Yes you can do it. It will take a bit more than a 3 or 4 inch lift kit and a lot of trimming here and there to tweet you stock axles to handle 37s as well as fit them on a shorter lift.
Since photobucket doesnt want to work right, I cannot upload a photo so show you. I drive a LJ (TJ) with 37s and 2 inches of lift and 1" body lift totalling 3 inches. Does well on road and off and is low enough to keep my feeling planted while off camber.
Impact Orange LJ - DD...sitting low, flat bottomed, fully armored and locked on 37s