iOS 4.0.2 is also available for iPod Touch 2G.You can jailbreak iPod Touch 2G (non-MC) iOS 4.0.2 with RedSn0w 0.9.5b5-5.The complete guidelines are given below.
Disclaimer: This guide for educational purposes only. So, try it at your own risk. We can NOT be held responsible if anything goes wrong.
The steps are.
Rest of the steps to jailbreak iPod Touch 2G (non-MC) running iOS 4.0.2 are exactly similar to the guide posted here.
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