I had the same question, and the link provided by Qmechanic seems to be founded on a solid understanding of the group theory. I was wondering if one may simply understand the transformation of the indices for this specific question based on the textbook alone while using a minimal amount of knowledge/arguments from the group theory. After consulting my colleague Alberto, here is the answer I got following this criterion.
The identity (Eq.(3.77))) reads
$$(\sigma^{\mu})_{\alpha\beta}(\sigma_\mu)_{\gamma\delta}=2\epsilon_{\alpha\gamma}\epsilon_{\beta\delta} \ .$$
We start by the right hand side of the equality. Firstly, we can show that anti-symmetric symbol $\epsilon_{\alpha\gamma}$ is Lorentz invariant if both indices transform as left-handed Weyl spinors
$$\Psi_L\rightarrow U_L\Psi_L=\exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})\Psi_L \ \ .$$
The above statement is equivalent to the following identity
$$\epsilon_{\alpha\gamma}\rightarrow \exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})
_{\alpha\alpha'}
\exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})_{\gamma\gamma'}\epsilon_{\alpha'\gamma'}=\epsilon_{\alpha\gamma}
$$
or
$$\exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})\begin{pmatrix}
0 & 1 \\
-1 & 0
\end{pmatrix}
\exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})^T=\begin{pmatrix}
0 & 1 \\
-1 & 0
\end{pmatrix}$$
The above identity can be shown without much difficulty by noting $\begin{pmatrix}
0 & 1 \\
-1 & 0
\end{pmatrix}=i\sigma^2$, $\sigma^\dagger=\sigma$ and the transverse of Eq.(3.38), so that
$$\exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})\sigma^2
\exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})^T\\
=\exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})\sigma^2
[\sum_n\frac{1}{n!}(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})^n]^T\\
=\exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})
\exp(+i{\mathbf \theta}\cdot \frac{\sigma^*}{2}+\mathbf{\beta}\cdot\frac{\sigma^*}{2})^T \sigma^2\\
=\exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})
\exp(+i{\mathbf \theta}\cdot \frac{\sigma^\dagger}{2}+\mathbf{\beta}\cdot\frac{\sigma^\dagger}{2}) \sigma^2\\
=\exp(-i{\mathbf \theta}\cdot \frac{\sigma}{2}-\mathbf{\beta}\cdot\frac{\sigma}{2})
\exp(+i{\mathbf \theta}\cdot \frac{\sigma}{2}+\mathbf{\beta}\cdot\frac{\sigma}{2}) \sigma^2=\sigma^2$$
A very similar argument shows that $\epsilon_{\alpha\gamma}$ is also invariant if both indices transform as right-handed Weyl spinors.
So one may choose to look at the right hand side of the identity as an invariant tensor where $\alpha,\gamma$ transforms in the Lorentz representation of $\Psi_L$, while $\beta,\delta$ transforms in the separate Lorentz representation of $\Psi_R$, as pointed out in the textbook.
Now we move to the left hand side of the identity. It is more difficult mathematically (but still feasible) to show (while a smart guess also strongly points to) that $(\sigma^\mu)_{\alpha\beta}$ is also a Lorentz invariant tensor when $\mu$ transforms as a Lorentz vector defined by Eq.(3.19), $\alpha$ transforms as a left-handed spinor and $\beta$ transforms as a right-handed spinor. So that when $\mu$ is contracted out on the left hand side of the identity, the remaining free parameters transform exactly the same way as those on the right hand side. This immediately leads to the conclusion that the identity is correct up to a constant number, which can be then fixed by evaluating only one term (instead of all $2^4=16$ of them).
Usually, the above arguments are given in terms of the language of group theory in a more elegant way, and one good reference is Quantum Field Theory by Srednicki (see the text between Eq.(34.18) and Eq.(35.20)).