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The answer to this question is yes it can be done it is a bit more work to do it on the side, I have done it so I know it can be done we wont discuss the language used in trying to line up all the splines.
Looking at those parts you might be better off with a good used transmission, Allison parts are expensive if you find a broken drum it will be big bucks those parts are more than just stripped splines I see snap rings and big metal parts.
No bands in that trans, I have seen this before and found the teeth stripped out on the back set of clutches. its pretty easy to pull the back cover off the transmission and replace the clutches, however on a 5 ton you may have to remove the t-case to get enough room to work.