The PCV is located on the outside of the oil filler tube. (where you put oil in half way down) on the side you will see it.
There is a hose that is attached to it. Be carefull not to break that hose they can get brittle. Using a hairdryer to heat the hose should make it easier to remove. The pcv once turned counter clockwise can be pulled out, and it should rattle when shaken. If it does not rattle replace it. Make sure it is not plugged up with oil/crap.
Use this link to see the PCV.
http://www.jeepkj.com/forum/showthread.php?t=41926&highlight=valve
If your engine is burning oil due to worn valve stem seals or worn rings, only rebuilding will correct the problem. Is the engine smoking blue out the tailpipe when hot and let idle for a few minutes, then step on gas and note any exhaust smoke. A compression test will give you a better idea of cylinder condition. Consider finding a mechanic who is familiar with these processes, or consult a dealer.
The rad or cooling system flush should be done once every 5 years. It requires HOAT coolant (available at dealer) and it is a good idea to replace the thermostat as well.
Is your temperature gauge reading middle way?
Do you have any check engine lights on?
5W-40 is a bit thicker than recommended. I believe the correct oil spec to be 5W-30.