Good stuff on this topic! I thought I'd add my experiences (FWIW) in hopes it'll help.
I've copied Bruce_W's comments as they were "invisible" to me until logging out.
The “wind-up†is not in the transmission and almost not in the transfer case. Only the bottom end of the transfer case is involved.
If you’ve got it wound up to the point that you can’t shift it out of 4WD, you probably won’t be able to remove the front driveshaft either, until you raise one wheel off the ground and allow it to “unwindâ€. At which point you can shift it out, and the shaft doesn’t need to come out. If you want to remove the shaft so this won’t happen again, it won’t matter whether the transfer case is in 4WD or 2WD.
Backing up a few feet is supposed to help unwind the drive train, but I’ve not had good luck with that, even going more than a “few†feet.
BW
That’ll work but you’re making it harder than it needs to be.
Park on a flat, level surface. Chock one or two wheels if it makes you feel better. Transmission in any gear or not, doesn’t matter. Parking brake off. Lift any wheel, or two if you like. As soon as it clears the floor the tension will “unwindâ€. It may not make a movement that you can see. Shift out of 4WD and set the jeep back down.
BW
My experiences with "wind up" (I had always referred to it as binding but this seems more descriptive) were when I had drive flanges on the front hubs (before lock-out hubs added). From time to time, the stick would not shift out of 4WD (mostly when hard surfaces were being crossed but occasionally on soft surfaces). I'd simply put it in reverse and back up about 3-5 ft let off the gas and at the same time, move the stick. Sometimes I had to do it twice. But it always worked. I'd never thought of raising a wheel but that sounds simple enough - although maybe a bit more time consuming while on the road.
I don't believe removing the drive shaft is the solution, and hopefully using the above advice, you're able to unwind and shift back to 2WD. A stuck shifter is a problem that should be resolved vs. leaving it. You need to be able to shift. Hopefully, you are able to unwind successfully. HELPFUL TIP: I always push the transfer case sticks to 2WD Hi (in your case - the one stick) before driving to make sure! (same as transmission in neutral before starting).
To add to BillT's comment, I believe the OUTSIDE wheel is turning faster than the inside wheel due to radius. The differentials automatically correct for this but when you're in 4WD, you're adding another layer of binding that eventually winds up the drive train. As stated soft/slippery surfaces should allow the tires to unwind on their own. I experienced this first hand in my XJ on patchy roads in KS. They would scuff when I'd transition from icy to dry patches on the road (in turns of course).
I did google this and found an interesting article explaining this. What was new to me was the 4 different radius' during a turn in 4WD (follow the link at the bottom for more info):
http://4x4abc.com/4WD101/def_turn.html