Howdy and welcome!
You don't have the E4OD, it was replaced in 1999 with the 4R100 which is an updated E4OD. The 4R70w is a light duty tranny. You might want to read through this thread...
Transmission Information Page
These trannys are ment to tow in any gear. Only lock out OD if it is hunting between 3rd and 4th. This usually happens in hilly roads, or driving at 45-50mph.
For that weight trailer, I would reccomend adding a tranny temp gauge...
This would allow you to be able to back off if the tranny hits over 200deg. The stock indash gauge is nothing but an idiot light with a needle and doesn't start to move untill you are already toast!
Adrianspeeder