Congrats on the Ranger! I have a 99 Supercab, 4x4, 4.0, auto. Your truck (assume new) is going to have a few more horses than mine. I tow a 1990 M26 (today's 3023) with mine. I have no problems towing. Plently of power, braking, etc.
I use a Equalizer brand hitch (
www.equalizerhitch.com) for load distributing and sway control. I am very pleased with the unit. I would not tow a TM without a weight distributing hitch with a Ranger, given the high tongue weight. Without it the front end feels light. Not a good thing.
I have towed from New Jersey through the Rockies (yes, over big passes). Never had any power problems over those passes. Yes, we went up the 7% multi mile grades at 35-40 but then that was the speed limit too. On the interests in the west we'd hold close to 70 mph without problems. Get a good brake controller, something like the Prodigy. I have had several close calls with people cutting in front of me or nearly side swiping me trying to do the same and despite swerving to avoid a collision and fully applied brakes the TM always behaved like champ behind the Ranger. I think that you will be happy with your combo.
Remember that even though some folks may think that Ranger is too little truck to tow a TM, many here are towing with even less capable minivans.
If you have ??s please ask.
Good Luck!
Camperboy