Oh yeah, one of my favourite what if!
What would Muhammad or his descendants do if they actually "succeed"? Would they take over Ottoman empire, directly or indirectly (as power behind their puppet sultan?)? It was possibility, without great powers intervention, in second war, even turkish admrial with whole fleet defect to Muhammad! Way to Istanbul was probably open (if not for westerners meddling)
Or woud he build some "arabian empire", from Iraq to North Africa instead? Ali probably don´t (he surely wasnt arabian nationalis, but his descendant otl "arabize" themselve)
Or something else? Some sort of "neoegyptian empire" expanding into Africa?
Intervention of Europeans surely need to be avoided. Not only their intervention in 1839 but also Baltaliman convention which probably badly hurt egypt economy. However, I doubt there is a way how to compeltely avoid some GP meddling. But this is not needed! There were after all just two power which thwarted his attempts: UK and Russia (and about second one, I am not sure how much would be able to project its power into Levant...) What if Muhammad play Britain and Russia, already rivals, against each other? He actually try something like this, but didn´t succeed, Brits get with some sort of "collective protectorate over Turkey" instead... Britain would be however dangerous ally...
Another possibility is to avoid intervention, which is, as I said, unlikely. One possiblity is already mentioned one: GP are busy elswhere, probably back home in Europe with something. But there is second one: "float under their radar", to not became thread to them. Was that possibility, in combination with reforms and, eventually, expansion?
Where to place PoD? 1830 and first war against sultan? Or 1839 and second war? Maybe some different outcome of Greek war?
Some alternate choices: 1. North African expansion - there was some plan to partition north Africa between Egypt and France in 1830 A)lgeria to France, Tripolis and possibly Tunis to Muhammad), Muhammad however step back and get for Levant instead, with known results...
2. Tusun Pasha do not die - he was seen as most able of Muhammad descendants and natural heir, however die fairly young... maybe he would really be great ruler?