It is no problem, with the right tow hitch, and there are various ways to have your tail lights operable. There is the, take it to a U-haul, of simular station to have it installed, or doing it your self with extra bulbs placed in the rear light cluster. I have seen several right-ups, on different forums, for the "do it-yourselfer".
I am getting my rig set up for towing right now. I got a 5000lb tow bar from harbor freight tools on sale for $50! They sell magnetic trailer lights too. I don't know what type of front bumper you are running, but body armor www.bodyarmor4x4.com sells brackets that will adapt your front d-ring shackles to fit most tow bars.
I tow mine behind a motorhome. I bought a no frills tow bar that included brackets to mount to the bumper and use magnetic lights on the back. I ran / zip tied the wires underneath so all I have to do is plug them in when towing. I looked into wiring into the jeep's lights but the parts were going to run @ $75. Adhere some thick tape to the magnets if you don't want to scratch the paint on the tailgate - ask me how I know.
i remember a thread somewhere a long time ago where someone was flat towing a tj and the c-clip came out, and the axle shaft and tire came out and went across the highway while the tj was dragged for a mile or so on the diff. ugly pics.