How to adjust rear Load Sensing Proportioning and By-Pass Valve (LSP & BV)?

I'd be drilling through air then...

 

The nuts are for adjusting on a truck with stock suspension. Once you lift it (or lower it), you change things greatly.

 

Whatever bracket came with the lift kit I originally bought only has one position if I'd try and go higher it's off the bracket.

This Like @Squeaky Penguin said I'll pull the thing up to the bed and see if the rears lock up or not. I doubt they will. So it's not even a productive thing to have anymore regardless of doing an endo or not.

 

I didn't realize you already had one. I was talking about getting a cheap piece of flat bar and drilling some holes in it.

 

sooo if I lower it (i gots a 5 lug), i need to adjust this valve thingy?

 

Yep, give that a shot.
The valve does not provide a huge amount of increased bias, it's something like 20%. Back in the day folks with larger than stock tires would simply cut the rod off and zip tie the stub all the way up without issues.