Take
oil from the engine (outer hole, check your remoter adapter) to the
oil filter (IN) then from the filter (OUT) to the cooler inlet (either side), then from the remaining cooler port back to the engine inlet at the remote adapter (center). Use a minimum size #10 AN hose with as few 90 degree AN tube bends fittings as possible. Plan your hose route carefully to avoid possible abrasion and at the same time keeping its length as short as possible.
Check out the filter adapter used from a mid 70's 460 Engined Ford Econoline van (may be used in other OEM applications too, it is very compact) it will allow you to mount the filter at about a 30 degree angle close to the block and by modifying it slightly provide the ability to attach the hoses to the cooler at the same time. This is a very good and often overlooked filter adapter that can be used on 260,289,302,351w,429,460. This is one on Ebay currently.
http://cgi.ebay.com/ebaymotors/Ford-...spagenameZWD1V