Not the CPS then. If you have steady power, with no loss, then your problem is most likely in the drive train or suspension. I would check the ujoints first. Also; have some one follow next to you on both sides while you drive into the problem. Have the observer look at the wheels for hop or shake.
No. If your check engine light is on you should have it scanned with an OBD II reader. Jeeps also have sub codes for their transmissions, so whether the code is in the engine or trans you should find the culprit.