Yea, that sounds about right.
You'll get different opinions about the rings on the front frame. Theres no tow weight rating for them, but many including myself have used them as recovery points without issue. Some will claim they are just transport tie downs, but some toyotas just have a screw that goes in for transport. you could get some front recovery points like these
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In general, your plan should work. Id say 95% your fine in recovery for 4 hi as long as you have good traction. 4 low will give you more torque if its really stuck and youre having trouble with traction, but go low and slow
Otherwise - just get an offroad bumper and a winch ;) for safety purposes