That will be your main problem with putting those tires on those wheels. I would bet there will be a lot of rubbing when turning very sharp at all. And that has nothing to do with how much lift you have.
I had 33x10.50x15 tires on stock 15x7 wheels and that was bad on sharp corners. 33x12.50's will be a lot worse.
I ran 32x11.50x15 BFG AT's on stock 7" wheels (92 YJ) on 4" of lift.
I did have to adjust the steering stops slightly to avoid tire contact to the leaf springs, but I never extended my bumpstops and had a lot of wheel travel and no rubbing issues. I could stuff those 32's nicely.
Like I mentioned above, squeezing a tire on a wheel smaller than recommended may have treadwear issues, I had no problems to report with the 11.50's and 7" wheels. Keep in mind I used AT's and a set of mudders may react differently.