I spent the weekend casting about for some way to get the Windows FTP client to exit on a connection failure, but was unable to find anything. I'm pretty sure that it is not possible. In lieu of that, I installed WinSCP, which has a console mode and is decently scriptable. It has a reconnecttime option that allows you to specify the number of seconds the process will wait before attempting to reconnect. In testing, the job was completed successfully even when I disconnected the FTP session from the server side several times. A permanent disconnection caused the program to exit with an exit code of 1, which is sufficient for the SQL Server agent to detect that the job failed and notify us accordingly.
WinSCP doesn't seem to be consistent, though, in its handling of disconnections. In some trials, a second disconnection of a session caused the program to exit with 1, while in others it reconnected after many disconnections. I landed on these settings as the ones maximizing the probability of reconnections and successful job completion:
option batch on
option reconnecttime 30
option confirm off