You're going to have to go higher, probably closer to 6" and will need to replace steering linkages etc. Check with a dedicated four wheel drive shop or you can get good info from websites dedicated to radical four wheel drive jeeps. Google this and you'll see that there are other people just like you there and they'll have great information because if it's doable they've probably done it.
no
NO
yes
not if you have the stock rims
yes
Jeep did not make a Cherokee Laredo, they did make a grand Cherokee Laredo, and you can fit 31 inch tires.
they said mine did this because my tires were not stock and were bigger then recommended
P235/65R17 for both front and rear tires.
nope
Yes
Depends entirely n how big of tires you want to mount and how much you want to spend. You can squeeze 29" tires under a stock Grand Cherokee and then you go up from there. You get what you pay for when you buy a lift, a cheap lift will handle poorly and can be unsafe.
all terrain factory size for best performance and smother ride