The 3L is going to just roast the tires down low. You might want to look into some better tires. Then again without a LSD I'd be careful. The stock diff might gernade if you are too rough on it. Open up the exhaust on that car as I'm sure it's restricting that engine.
1999 3.0L Cougar: 220fwhp and 200tq
2003 VW Passat W8 with 4 Motion AWD
http://www.cardomain.com/ride/300644
PM for intrest in 3L SVT Contours, 3L swaps into your current car, Prepped 3L engines, or anything 3L related.