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A friend towed my 1970s vintage 245 wagon with a Chevy S-10 and we had no issues, so you are probably good. In your case, the Ford Ranger's tow capacity vs. the weight of the 164 is your issue. Just be sure that the loaded weight of the 164 is less than the tow limits of a Ford Ranger. I do not think you have to register a rented tow dolly (e.g. u-haul).
Personally, I've got no experience towing yet, but I did install a class 2 hitch on my 940 to tow my 122 in case of breakdown. The 1995 940 can tow 3,300-3,500 lbs and a 1967 122S weighs 2,600 lbs. A Class II hitch is rated to pull up to 3,500 lbs.
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