My understanding and experience is that 3 ways work to a maximum of around 25 deg below ambient temp.
I used a 3 way for over 20 years and found it quite adequate for what I used it for, (in a 4wd) apart from in very hot weather. A pain to remove from the vehicle every afternoon to connect to gas though, which was one of the reasons I eventually bought an Engel.
Numpty
Thomas - 1955 Series 1 107" Truck Cab
Leon - 1957 Series 1 88" Soft Top
Lewis - 1963 Series 11A ex Mil Gunbuggy
Teddy5 - 2001 Ex Telstra Big Cab Td5
Betsy - 1963 Series 11A ex Mil GS
REMLR No 143
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