Ok I tested myself
The answer to my previous question is yes, The installation automatically extract the compressed .big files and replace the dummy ones.
I created the archive selecting from within "data" folder!
I've uploaded a batch script I created for replacing automatically the ".big" files with dummy files after creating the FreeArc archive.
Extract both files "dummy" and "dummy.bat" into Your "data" folder then double click on "dummy.bat", and that's all