One problem related to transmission gear slipping has been reported for the 1997 Jeep Cherokee. The most recently reported issues are listed below.
While driving engine check light came on. Consumer pulled over to check under the hood. Consumer indicated that before engine check light came on, gears were slipping. A couple of days before, engine quit and vehicle would not go over 25mph. Took vehicle to dealer, and they said it was a common transmission problem. Dealer rebuilt transmission. At another time, consumer heard a loud bang. She stopped/looked under car, and noticed oil on the back window due to engine rod breaking off, piercing three holes in oil pan. No warning at all, and then vehicle died.