I've got a 1998 Grand Cherokee, and lately, the alarm (the panic) keeps going off. How can I disable that function?

The only way the panic goes off is if you hit the panic button on your key fob. What I believe is happening is that the alarm is going off due to a short somewhere. Might want to check the hood switch, etc. Might have one going bad.

I have a similar problem but I think for different reasons. The security system on my '98 GC would go off when my battery voltage got low (a voltage drain is my problem) to a certain point. Then the alarm would go off and drain the battery more, and just continue until the battery was so dead that it would not power the siren.

If there don't seem to be anyother problems with the vehicle except the siren going off, you can just disconnect the siren for now. Other than that it does sound like you have a short somewhere. You can try and trace all the wires connected to the security system for shorts but they are multiple and most hard to follow the whole way.

Good Luck