The 15" wheel will fit over the rear drums. The issue that comes to hand when mounting 15" rims on 3/4 ton axles is not the rear axle, but the front. 3/4 ton brake calipers on the front will rub against the wheel, however only a small amount of the caliper needs to be ground off to make the wheel fit. The best way it to paint the caliper with some cheap primer and the put the wheel on while the paint is wet. Where ever the paint is messed up is where you need to grind. Go slow and this should work out fine for you.
1973 K20 - 350/350/205