They won't be one uping each other because the trucks would be exactly the same except for sheet metal and possibly an option here or there.
From what I've read the dakota is done as is the ford ranger, 2011 being the last model year the public can purchase one. Chrysler would be smart to fill its place with a cheap COMPACT pickup, not a midsize truck. Why not produce a Jeep truck to fill that market share. I'm sure businesses would purchase them as fleet trucks as long as they can be had with a economical 4 banger and were priced cheaper than a mid/full-size truck(thats the problem with all the midsize trucks, you can get a similarly equip full-size for roughly the same $).