Yep, that is the plan. I know the P0700 code is just a generic ****** fault indicator, so I figured the best approach was to start with a check of the fluid and look for any signs of a mechanical failure by examining any debris in the pan for iron bits that would stick to the magnet, or brass (bushings). If I had seen any of that, I'd just skip the trip to the dealership and buy a rebuilt transmission off of eBay or something. My oil and pan were pretty clean (I'd consider the small amount of debris I did see as just normal wear and tear), so I'm hoping that means my sudden no shifting condition is being caused by something electrical (a faulty sensor, wire, or connection), or something hydraulic (dirty solenoid pack, leaky O-Ring, etc.) In addition to reading the exact transmission codes that are triggering the P0700, the dealer can also use the pressure test ports on the side of the transmission to pinpoint the exact nature of the fault. I may still have to remove the transmission to fix the problem, but the repair is potentially much cheaper than buying a new transmission.
I'm not as familiar with the 42RLE transmission in the 2005, as I am with the 45RFE that's in the 2002-2003 Liberty's (since I had one of those for years), so I thought posting my symptoms to the JeepKJ community could be useful also. The 42RLE transmission is much "smarter" than the earlier 45RFE, in that it's transmission control module (TCM) is fully integrated with the car's power control module (PCM), so it can learn to shift, based on how you drive. I'll have to admit, I like the way it shifts, much better than the earlier 45RFE that's in a lot of Chrysler V8 trucks and the early Liberty's, even though the 45RFE is widely considered to be a "tougher" transmission, by the off road community. I know the 42RLE has it's roots in the early V6 powered mini-vans, but I don't know what it's common failure modes are now. Chrysler has sold a ton of V6 powered cars with similar versions of the 42RLE transmission, so I'd like to think massive production numbers and many years of engineering have created a pretty sound transmission. I do know that a fairly complete "rebuild" kit for the 42RLE can be had for around $250 that replaces all the common wear items, but if things like planetary gears or pumps are known problems, that would be good to know also. I've never had much success with automatic transmissions where major components like planetary gears were replaced.....