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Engine light associated with an engine misfire after parking the car on a grade. This is a fuel injected engine with the fuel pump in the fuel tank. It misfires for a short period and recovers. The misfire creates the engine light that reads as a misfire to # 3 cyclinder. Have had the electrical system checked and plugs replaced by the dealership. This happens when the engine is operating at temperature and when it is shut down for a short interval. The engine is warm at the restart.
I also have the 01' Cherokee and now (this week) have the exact same problem. The service department at Hendren Jeep in Pineville, Missouri suggested also that it may be the crank position sensor. Mine did not give an engine light for at least the first eight misfires but today it finally came on. My catalytic converter is also now bad.
I am having the exact same problem with my 2001 Jeep cherokee. I had mis-fire codes and the dealer installed a heat shield. Now 2 weeks later I'm getting check-engine light again and this time they say it's the cat converter. I'm replying to your post because I have seen something on the web about the cam sensor problem. It may not be enough to replace the sensor. Read this post I found on the net: http://www.askamechanic.info/askamech2/content/view/36/46/
It's kind of long, but in the end they had to bring the crankshaft around to zero degrees TDC and that fixed the problem