Its not as simple as it seems.
Does your truck have the big remote vacuum booster on the frame? The volume it puts out would have to be figured also.
However before you worry about the smaller size, remember that the 1-1/4 master had to supply fluid to all four wheels.
Now, each side of the cylinder only supplies two cylinders.
If you know the diameter of the wheel cylinders and their maximum stroke, you can figure how much fluid they would require under worst case conditions.
Your best bet is to find a company who sells a system for doing that. I was going to convert my '67 F600, and found a company that said they sold kits, but I never went any farther.
No idea who the company was at this late date. I bought a new booster and stuck with what I have for now.
BTW, if you remove your booster, don't forget to plug the vacuum line. Darn truck will not run worth a darn if you forget........