Are you just giving dimensions from the tires, or the sizing marked on them ? If they have that designation, I don't think they are BFG Drag Radials. They use regular P-metric sizing for their drag tires, such as 235-60-15, or 275-50-15. Mickey Thompson uses that type of sizing on their bias-ply E-T Street tires, I have a pair of 26.0 x 10.5 x 16 M/Ts, used to have them on stock SC wheels (on Mustang 16x7-1/2 now since my brake conversion), they fit no trouble, my car is down about 1-1/2" with Eibachs. How much lower is your car with the 1/2 coil cut ? The other issue to consider is rim width, what are you going to use to mount them on ? Stock T-Bird steel rims are only 6" wide, and aluminum ones are only 6-1/2". Those really aren't wide enough for a 10.5 tire, mine were squeezed a bit on the SC 7" wheels. I'm sure they'll mount up, but you certainly wouldn't get a full contact patch. Aftermarket rims 7" or wider would be advisable. Unless you can get a great deal on those 15" drag tires, I would consider looking for a pair in 16", so that you can use stock SC rims to mount them on.
cheers
Ed N.