Put a set of 3.90's or 4.33's out back and you should be able to fry tires. No top end however, and your engine won't like highway driving. The 2 series gears or the 3 series ratio's under 3.55's will need some good torque/horsepower to spin tires with an automatic. With a 3/4-speed manual trans you can do it because you can rev the engine, dump the clutch, shock the tires, and spin em'. Unless you want to put your automatic in neutral, rev it way up, and drop it into drive, you may not spin your tires. But this is not my recommendation and you might just drop the tranny.
The 350CI in my book seems to be under rated because everything centers around the more available 400CI and its stroker abilities. I had a '67 Firebird with 350CI 3-speed manual trans that had no problem laying down long strips of rubber with its one-legger rear end and the old 14" 78 series tires. I had an aftermarket tach in it and I'd spin it 6,000 RPM's with no problems.
I'd like to build a hi-revving Pontiac 350CI just to try it, 6800-7200 RPM's, 475HP/410 ft lbs. Not sure how I would go with trans/rear gears.
My basic build (which could change with better research) off the top of my head would be:
350 block .030" over
Forged pistons 10:1 ratio
4-bolt splayed main caps fitted
forged crank with BB 2.20 rod journals
80 PSI oil pump and big pan
BB 6.7 forged H-beam rods to give a rod/stroke ratio of 1.79 for high revs.
350 CI 1.94/1.66 Iron heads:
1.stock intake port flow @ 190-210 just cleaned up, no port larger RA IV gasket matching, just stock gasket matching to equalize.
2. fitted w/screw-in BB 7/16" studs & Pontiac guide plates. Pushrod holes elongated for large lift cam.
3. 2.02" valves on the intake. I think I would leave the 1.66" exhaust to keep exhaust gas velocity up.
4. bronze valve guides & teflon seals
5. 3-angle valve job and some port blending and "boat-tail" the intake guides in the bowl.
6. matching valve springs/retainers
7. 1.5 ratio roller rockers to take advantage of the slower opening rate vs 1.65's for a little more improved bottom end performance.
Solid Cam, 112 LSA, 109 ICL, 295 duration -.500" Int, 300 duration -.520" exhaust. Intake closes at 76 ABDC.
Torker single plane intake
780 CFM Holly
1 5/8" headers, duel 2.50" pipes with X-over, low restriction mufflers.
Electronic Dist. & MSD