I'd take a look at the HF Gantry for some ideas. With the right bracing you can get by with much lighter material. Rather than welding a ring in the center to hang the chainfall from, I'd advise you to get one of those trollies that roll on the I beam so you can have some lateral adjustment without having to move the whole crane. The casters will handle all the weight, so be sure to get ones that won't grenade and add some excitement when you have something big hanging.
Also, keep in mind that with a 7 foot max height that will limit what you can lift to 66" off the floor. I just went out an measured a 1 ton chain host from the top of a 4x4 to the bottom of the lift hook all the way up and it's 18". If that could be a problem you might want to consider a shop crane instead. They can be had off craigslist for about what the materials would cost for the gantry.