Highway 550 (aka the Million Dollar Highway) over Red Mountain Pass is probably the most scenic beautiful drive in Colorado. (IMO)
It is a 2 lane paved highway with 5-10 mph switchbacks in places up near the old mines. There are no guardrails in many places. I have traveled the road for over 30 years. Whether you want to tackle it would depend on the condition of your equipment, your 5er experience on challenging roads, and your patience. There are actually campgrounds up near the top of the pass. A day trip to Ouray would be a must if you don't tow thru there. The narrow gauge railroad also runs round trip to Silverton daily from Durango.
There's really no easy alternative given your trip itinerary, short of a long detour into Utah up through Moab, then back to GJ.
Give the wife some Tylenol, and have some cold sedatives for the end of the trip, and have fun!
