1st LOCK it, 2nd Armor it, 3rd tire.
Tire size determines amount of trimming and OR lift you need. See, the primary purpose of a lift is tire clearance. 1/2" to 1" of Trimming EQUALS 2" to 3" of lift. Major Suspension Upgrades can be made without lifting.

 

tire size does determine clearance though, id lift it before armoring it imo

 

I'm gonna say armor first, based on my own experiences. These trucks are pretty capable even in their stock form and on stock tires, so protect your underside and enjoy a few trails. Taller tires and a lift may give you more clearance for rougher terrain but the stuff you do get hung up on can really mess up your underside. You're gonna want armor eventually anyway so may as well get it over with and enjoy the ride until you get the lift and tires.