Interesting dilemma. Growing up in West Texas, I feel your pain. Learned to hit it really low. Anyway, if I do the math, based on the effects of length and loft on distance, and assuming about an 8 degree reduction in loft and a 1.5″ reduction in club length, you should hit the #2 iron head on the #5 iron shaft length about 15 yards longer than you would your normal 5 iron. This is just an educated guess. Of course this can vary depending on your clubhead speed and how solid you hit it. The head weights are probably 20 grams or so different, so you would need to add some of the head weight back. You could put 10 gram shaft tip weights in a steel shaft, then add another 10 grams in lead tape. If your using graphite shafts, probably only going to be able to put 6 grams in the shaft tip, and however much more you needed would need to be with lead tape. Lead tape is no problem, but you are adding a lot, try to keep it in a neutral position and be aware that after you apply it, you need to roll it on or press it with a hard surface to hopefully secure it so it will not come off.
Let me know how this works out.