I know from looking at the title many of you are thinking "Frey, you should KNOW THIS by now." And to be honest I should, its just a matter of the more research I did only served to further confuse me.
Dialogue with sentence in question:
My Genki I book says the following on ている
A verbal "te-form" when followed by the helping verb いる, means either of the following:
(a) an action in progress, or
(b) a past event that is connected with the present.
Which of these two senses a given verb is used in is to a large extend determined by the semantic characteristics of the verb. The verbs we have learned so far can be roughly divided into three groups based on their semantics.
(1) verbs that describe continuous states
(2) verbs that describe activities that last for some time
(3) verbs that describe changes that are more or less instantaneous
At first, I thought the している was being used as (b) a past event that is connected with the present. Considering how in context the past event was 平穏な暮らし, I thought option (b) was the correct choice as far as to what している meant in the above sentence and context.
My research to find a way to show the ている time construct through the usage of specific tenses in my native language, American-English - which I never formally studied the tenses of - has led to an extreme doubt in the accuracy of the ている being used as (b).
So as a verb it means "to act in a way that accomplishes [objective]"
And for ～をする since を marks the direct object, it means "do ～" (Because it's a direct object, doing ～ directly accomplishes ～)
する can also be used for describing some attribute:
私は長い足をしている to mean "I have long legs"（stative resultant ている form of する)
To accomplish "long legs", the simplest way is to simply "have" it.
Further research into the ている construct led me here, and to this question. Questioning the particle usage of を in the above was what might have led me to the question containing the above except in the first place. After all this research, I still have no clue whether する is a transitive/intransitive verb in the above, which according to my Genki II book will affect how the ている affects the verb, among other things.
As you can see I'm confused because of over-research into figuring out what the している is if its not option (b) from the above Genki I excerpt. If the correct option was in fact (b), please answer the following translation question:
As a native Japanese would read している and recognize that the 平穏な暮らしthat occurred far in the past is being connected to the present via している, what specific tense would work for describing 平穏な暮らしをしている限りは so that a English reader will have the same (or as close as possible) experience reading the translation as a native reader would when reading the original?