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No, to the second question- sensor won't make it crank any different. Faster than normal cranking often means a broken timing belt -less friction with the valve train not moving, so engine spins faster. But you have a timing chain, right? Any engine noise when it quit at 60mph? You could watch some valve action through the oil filler cap while the engine is being cranked, to make sure the timing chain is still intact.
If all is good, check for spark and gas to the engine. If stopped while running, it could be a failed fuel pump or a problem in the ignition system- cam or crank sensor, ignition coil, ignition control module, some of the things to check if no spark.
pull the shifter back slowly out of park and see if it engauges before or after the reverse position this could just need an adjustment in the cable if not it's an 08 you probably still have a warranty on it i would take it to the dealer if no warranty ammco or any othyer transmission shop can run a few tests on it for a low fee
Since you have a Laredo this should be where it is going in and out of overdrive. The reason is because 60mph is right at the end of the power range before going into overdrive. The other reason on your idle fluctuation is due to the cooling fan kicking on and off. Higher RPM's occur as the engine is trying to cool back down after reaching optimal temp. I due have a partial solution if you want better performance out of your jeep and will help MPG. You can replace the spark plugs and air filter for both mpg and performance. Local auto store should be able to recommend platnium or iridium plugs for your jeep. But K and N is the best air filter to replace it with. It will cost around 50 dollars but it has a lifetime warranty and is cleanable. If you decide on new plugs make sure to spend a few extra bucks and get some with a 3 to 5 year warranty. Just replace them before the warranty is up. Stephen