It is probably safer to disconnect the driveshaft from the pinion, leave the yoke in the transmission and tie the loose end to something convenient. This will help keep the oil in the transmission.
I'm not convinced that it will harm the trans to leave it connected. If you pull the OD handle nothing moves in the OD section (or it all rotates together) and it becomes like a standard shift. I suppose it is better to err on the side of caution.
For a long tow, I removed the rear U joint bolts and held the drive shaft to a cross member with rubber tie straps. That kept the oil in the transmission.
Thanks for the input guys. The local transmission guru here says that if I lock out the overdrive (which now makes it a regular 3 speed) I should be good to go. Next question would be "is it safe to tow a car with a regular 3 speed" ? I can't imagine how it could incur any damage, but am hesitant to prove myself right, as I've been wrong before. The planned tow on a car dolly is only 60 miles. Thanks again : Bruce
well I have to kick myself, I read your post wrong, I took it that it was an automatic trans (duh) I have towed my 57studebaker hawk with over drive over 400 miles with no problems, so a 60 mile trip will be no sweat
Thanks Ford3. At my age, crawling under a car after it's on a tow dolly to disconnect the driveshaft is not my idea of "enjoying the hobby", so I'm really glad you cleared this up. Bruce
I towed my 68 Camaro (muncie 4 speed) from Ontario to Vancouver, BC with no ill effects, and lots of cars with standard trans for shorter distance without incident.
I have towed cars with the standard transmissions for as far as 300 miles without disconnecting anything. My secret is to stop every 100 miles or so and start your engine and run your transmission in neutral. That will circulate the oil it needs for bearing lubrication between the input shaft and the main shaft.