Tow loop on the K frame?

Good idea. My 85 M-B has a tow hook, and not even centered (on right side, front). I think it is there because those trannys allow push-starting, since they have a rear pump, like Mopars before 1966. Push (or pull) starting is even detailed in the Operator's Manual. Perhaps Chrysler didn't add one because they wanted you to be push started. It would kind of scare me to have the engine fire up as I am following closely behind my buddy. I would rather "roll start".

For continuous towing, I prefer a tow bar (a "stiff arm" prevents crashing into your buddy). I installed brackets for that on the radiator support of my 65 Newport. I found that cheap trailer shackles work well.