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Sounds like the yoke. My 99 does the same thing. When you are stopping, the weight is transferred to the front end, just as you stop, it transfers back, dipping the rear end, and the yoke slides on the output shaft spline, CLUNK! Had a nickel yoke put in under warranty, 2 years ago. The same problem came back about 6 months ago. If it is a 4x4, I heard that if you change to the blue transfer case fluid, it will fix the noise.
It is Autotrac II Fluid (Blue Stuff), gm part number 12378508
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