It'll be fine. There won't be a new cycle as long as you're moving your rock over. And you'll avoid the issues of a zero-nutrient tank by moving a good amount of water from your 75g into the new 120g.
You don't even have to buy new sand. You can just thoroughly rinse you're existing sand just as you would a new bag of sand (tap water from you hose is just fine if you're on a well or a lot of RODI if you're on city water (because of chlorine/chloramines). It will even keep some of the beneficial bacteria.
I've done this 3 times now after tank upgrades/moving to new homes.
The worst I've ever encountered is a brief touch of diatoms and dinos after adding new 'dry' sand to fill out the bottom of the tank (it was a 65g to 120g upgrade so I need a good amount of additional sand). They only appeared in the areas of new sand. And after 2-3 of the tank settling in and regaining its balance, they vanished, never to be seen again.