Stall speed is controlled by size and distance between driven turbine and drive turbine. We've used torque conveters with 5,000rpm stalls behind the high reving small block Chevrolet engines but, these engines were turning upwards of 9,000rpm's. Almost anything is possible.
Balloning could be a problem but, most tranmssions have the input pressure at approx. 40p.s.i. and a requlator valve controls that. I've found most flex plate brakage due to crank shaft movement. In you case, I would check the torque converter pilot to see the it matches the pilot in the...
In 1962 Chevolet used two different automatic transmission. The 283 c.i. engine used a CastIron PowerGlide and the 327c.i. started using the Aluminum PowerGlide. The rear pump was removed in 1965 when the longer tailshaft model came out. No you cannot tow a PowerGlide with the driveshaft intact...