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That light coming on and the jeep shutting off means there is an issue with the antitheft system on the jeep. It could be either the key or the module. If you have another key try that and see if it works with that.
ok the issue is with the sentry key module then which is part of the alarm system bad news though you will need to have it towed to a jeep dealer to have it replaced because the module will need to be programmed to the jeep and to your keys
unfortunately there is no way to by pass the module.