Hate reviving an old thread, but my experience with towing in my Jeep ('94 YJ 4.0L pretty much stock) varied significantly from reevesdieselyj's. Just driving around town, I had a little tent-trailer, couldn't have weighed more than 2000lbs, I could really feel it in the brakes. I would hate to be descending a mountainous pass with it behind me. But the engine had enough power to pull it, only stopping...
On the other hand, I did take a small 14' aluminum fishing boat up into the mountains, loaded with some camping gear and it towed fine. It was a little hard to get it into 5th, even on flat ground. Coming back down I also made sure to let the engine/tranny work to help slow me down.
If it's a pretty much stock jeep, I would look at your owner's manual, that should give you some information on what weights you can tow, and let you figure out a "safe" towing capacity for your jeep.
Just my 2cents