Although pulling the shafts would certainly be okay ...the 231 has its own pump. If you have the t-case in neutral ...no trany issues should occur. If it's an auto ..put it in Park. That way NO tailshaft motion can occur to burn out your bushings.
As far as stability ...the only problems I've heard of is if you have too long of an extension behind the rear wheels of the towing vehicle (like a motor home) where the turning arch sends the towed vehicle too far in one direction before trailing behind in the other.
I have an old `62 CJ5 and I have flat towed it with, "The BigUgly" a `73 Chevy Blazer and I have gone from Denver to Steamboat Springs over instates and mountain passes. When wind is a little strong it does get a little touchyy but, overall the stability is great. L8r, [img]images/graemlins/burnout.gif[/img]
Oh ..the issue isn't the length of the hitched item. In fact the longer the tongue the better ....at least in a fixed trailer type wheel arrangement. That setup is somewhat self aligning. The issue is when the hitch point is WAAAAAAAY behind the pivot point of the towing vehicle. Your rear wheels are about a foot and a half ...maybe two from the hitch point. While on some motor homes ...the rear frame extension can add 8 or 9 feet to the distance from the rear wheels to the hitch point. When they take a tight low speed turn the a$$ end literally heads in the opposite direction of the turn and sends the steering wheels of the towed vehicle in that direction. Then that action abruptly yanks the towed vehicle in the opposite direction .....at times causing troubles ....especially if the towed vehicle is an older rig with stock negitive caster settings designed for bias tires.
Every thing that has been said seems OK. I only have to add that you should go to the RV store and buy two diodes. These little goodies let the left/right turn lights on the Jeep work properly. You can hook up a regular 4 wire connection. right/left/tail/ground and all works well. When you put the diodes in the line to the tail lights it keeps the voltage from feeding back thru the turn signal switch and lets the lights work seperatly. The tail (parking lights) are just hooked up straight.
You can tow at night,day or whenever and be realy legal.