Secure the chains to some stationary part, such as the toplink. Just be sure that they are not pulled too tight as the TPH is raised and lowered.
Since it sounds like you may be new to the PTO in general, be aware of two things:
1) The PTO shaft, as you already have figured out, is extensible.
1a) If the shaft is too short (i.e., there is insufficient overlap), the two sections can separate under load and the end connected to the tractor will swing around and beat the crap out of everything within it's reach, often breaking internal PTO parts in the process. There is almost no way that this situation ends without significant expense.
1b) If the shaft is too long (i.e, there is too much overlap), the compressed length may be too long when the TPH is in certain positions (generally at the highest raised position). If this occurs, PTO housing and bearing damage is almost a certainty, since the TPH will be putting a huge axial (end) load on the PTO shaft carrier bearing. In other words, you'll be be in effect trying to push the PTO shaft into the back of the tractor transmission housing -- with enormous force due to the geometry involved. If you are lucky, you will break the housing/gearset on the attached implement, which is the "cheaper" end. If you are not lucky, you are going to have write a huge check to your tractor dealer.
The summary of part 1a and 1b is that the shaft length must be optimized for the application -- not too short, and not too long. Either extreme can get really expensive, really quickly. Note that there are several "how-to's" on Youtube for correctly determining PTO shaft length.
2) The PTO on a tractor and the attached shaft/equipment should be treated with utmost respect and caution. Many, many serious tractor-related injuries are a direct result of contact with the PTO shaft and attached equipment. Exposed rotating PTO elements can grab loose shirts, gloves, and so forth; the result being dismemberment or death. For this reason, keep all safety equipment (like the PTO shaft shield you asked about) in place, and keep children/pets well away from operating equipment.
Wrooster
Very nice summary of this really important topic!:thumbsup: