I highly doubt your 350 has too much power for your Muncie. Power they can hold pretty well.... but their linkage system is not great for quick shifting.
A T-10 is a good option if you don't need overdrive and should be a direct fit. There is one in the for sale forum I just saw for under $1000 fresh.
How much power do you have, what are your intentions with the car, and what is rear end gear ratio?
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2004 NASA AIX Mustang LS2 #14
1964 Lincoln Continental
2014 4 tap Keezer
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