Personally, I would swap in a more modern engine and transmission. Maybe something like a 2.7 Ecoboost and 10R80, or some other small turbocharged engine. They're fast and light, and quite fuel efficient. The Ecoboost engines are also quite reliable, and often outlast the V8s.
Then you get the joy of driving the TJ, but it accelerates and cruises like a modern car, and you can use it for another two decades before you swap it for an electric motor.