my auto has a timing chain instead of a timing belt, are the material and labor

mechanic tells me that it is making a noise and could soon break ;major engine problem could result

Unfortunately the 2.7 V-6 has some serious oiling problems. In fact there is a class action law suit against Chrysler concerning this engine. Roy is correct this job is only to be done by an experienced tech. After you get the noise fixed you need to go to a full synthetic oil. The 2.7 is known for sludging up, hence causing your engine noise. It is not an inexpensive job.

appreciate the tidbits of advice,may have to send this vehicle walking,er running!!

That would be the wisest decision you'll ever make.