[Campaz]

You should do fine with the Chevy as a tow vehicle. I checked the A/S website and it lists the '70 31ft Sovereign with double bed @ 4960lbs. It has a tongue weight of 490lbs. The hitch ball height is 19in.
A suggestion, if you have never hooked up or towed before would be to find a good RV dealer in the trailers area and have them sell you a hitch and set it up for you. Perhaps the seller would deliver the A/S to the dealer for you.
Have them look over the "running" gear, tires, brakes, etc. They'll know what to look for. You will need at least an equalizing hitch. You might also want some sway control. Be prepared to spend a few bucks. Good Luck be safe.