Even if the serpentine belt itself were to fit, the mounting brackets, pulleys, and tensioner system would likely be different between the two engines, making the installation of the serpentine belt challenging or impossible without significant modifications to the engine and/or accessories.
You may need a different belt specifically designed for the 1979 305 engine, or you may need to modify the engine to accommodate the serpentine belt system from the 1992 350 engine. To ensure compatibility and proper functioning, it is advisable to consult with an automotive expert or refer to the specific engine manuals and part specifications for both vehicles to determine the necessary modifications or if a different belt is required.