Homosexual? How manly will you feel with a burnt tranny?
The answer to your question is yes, it will run like that for a while. But you'll be putting an inordinate amount of stress on your transmission creating a ton of heat and thereby reducing its lifespan. Just as important, you'll be lugging your engine constantly and putting untold amounts of stress on your crank, rods and bearings.
I've been running the stock 3.55s and 33 inch BFGs for a while now and am finally getting around to regearing. Every day of that time, however, it has been eating at me how I've been mistreating my XJ - and that's on lightweight 33x10.50 radials. 35s will not only be taller and therefore make your Jeep feel even more undergeared, they'll be heavier - anywhere from a lot to a ton heavier.
You sound young to me. If you'd like some friendly advice from those with a little more experience (which presumably is why you posted this thread), either wait on the 35s until you can regear, or remove that lift until you (and your Jeep) are ready for it.