There are a couple tow release installations publicly available to use on towplanes.
Tow kits are commercially available which include the tow hook, release handle and cable. It may be possible to use these with the following referenced paperwork.
On some Cessnas (182 thru 207) an A&P can install a tow hook with a logbook signoff using the Cessna drawing available here.
The SSA owns the Javelin STC for a tow release installation and it is available for use by members. The STC paperwork is here and reference drawing 813 is here.