Towing a dinghy in big seas (or even leaving an inflated dinghy on deck in high winds with big seas) can instigate major issues. We keep our dinghy tied on the nets, upright with drain plug removed or inverted if expecting strong winds or rain. It's tried to go airborne in 40+ knots, which is a lot of wind but not unusual in just a local t-storm. If towed (and lifted by seas) I could see how it would easily flip in 25-30k+ given the right combination of motion and wind, or it could eventually fill with water over a period of time from rain or spray. If that happens it would eventually increase drag to a point where it becomes impossible to remedy safely in strong conditions, and you'd have to cut it free.

Deflated and well-secured on deck (or better, below deck) is the only way to go unless you're just harbor-hopping with a reliable forecast for moderate conditions.