You might want to try something like this:
Dicor Solid Valve Extenders
We had to use something similar on our 2001 Adventurer with wheel covers. We were able to get them at our local truck tire dealer for far less than what Tweety's is asking.
I would avoid modifying the wheel covers. The bent lips around the valve stem opening adds strength to the cover. If you remove or modify it the wheel cover will flex and crack.
As for rotating tires, if you choose to do it I would follow Tejay's recommendation. Don't mix front and rear tires. The main reason being the fronts wear slightly faster than the rears if you're anywhere the load rating.
In most cases the difference won't be noticeable, but will be detectable with a tread gauge. Mixing slightly different diameter tires will load the larger diameter one more than the smaller diameter one. If you're near the axle load rating you may overload the larger tire. In any case you will put more pressure on the larger tire causing it to get hotter and wear quicker.