Clunk sound when braking or foot off the gas
 

It's coming from the back, it's not a squeak or u-joint sound, it's a single clunk, I get it at about 30 mph or slower when braking kind of strong, but I also get it when I'm going to say 50 or 60 and just let off the gas totally all of a sudden, drives, great, no clunk other than those two situations.

Ideas?

Axle wrap. How are your shocks and springs?

I got a feeling they're pretty shot actually

That'll do it.

Any other theories out there?

I had something similar. Driving along, let the foot off the accelerator, then BANG! Kinda like a kick in the ***. It was only once in a great while. Then, while playing around in Mexico, it started happening a lot more frequently. Then there was a god-awful grinding sound. Like when you throw a car into Park while still moving at a high rate of speed. (Don't ask.)

Anyway, long story short, my transfer case was shot. One of the gear forks was nearly ground down to nothing. One of the gears had been gouged.

Not saying this applies to you, but you might want to check your transfer case fluid level, just in case.

Deleted by me.

Ya, it kind of feels like I was rear-ended when I hear the clunk, like a slight push forward, hmmm ...

Could be in the 3rd member but check other things first and the gear lube.