Yes, but not recommended. If memory serves me correctly, the 533 used the 260/5 transmission. Those were not the best for the syncros then to go bad quickly. The 535 used the 265/5 transmission, much better for abuse. What is wrong with the current transmission?
Okay, you will have lots of fun with that kinda of swap. There are several here that have done the change over, like Shifty. You will expect about three good days to complete the swap, and do have a buddy to help, that will make it go easier.