First off, I'm not necessarily a "dog expert" but I have ran with my dogs for a number of years and I have looked into this topic before. So having said that you may want to talk to your vet before making any finally decisions but here is my advice.
Most dog books caution running with a puppy before they turn a year old. Puppies grow at a tremendous rate and running with a human could be hard on their joints (which could have serious consequences later on), especially if running on pavement. Also, puppies are more susceptible to various air-born viruses, so if you take a puppy to a dog park or other public places be sure that your dog is current on all shots and vaccinations.
Remember, puppies have a lot of energy, so don't think that your pup is necessarily a "wild child". Having said that, yes, some puppies do have more energy than others and they need a healthy outlet for their energies.
So my advice would be to start a walk/jog program with your dog, although three months might be too young for this program. I prefer to do this in the morning so it tires out your dog for the day, rather than doing it at night. When I've had high-energy pups, I usually walk them for about ten minutes, go on a slow jog for 3 minutes, and then a short walk followed by another short jog. PAY ATTENTION TO YOUR DOG! If he is visibly worn out, call it a day. Do not run your dog too hard. At the same time, even if your dog appears to be fine, it is better to error on the side of caution. You may go to a park, do the walk/jog routine, and if they dog is still wound up, let it do some running and exploring on its own while you supervise.
Exercising with your dog is a great way to develop a bond with him while also serving as a way to set yourself up as the pack leader. There are numerous books on this pack leader and pack follower relationship that all dog owners should read. My personal favorite is "The Art of Raising a Puppy" by the Monks of New Skete, but like I mentioned, there are a lot of good books out there so shop around and find one that is right for you.
Since you have an American Eskimo Dog, I would especially stress the importance of heat and exercise. Dogs of this build, meaning longer coats and bred for cooler climates, are especially susceptible to heat problems. So in other words, don't strenuously exercise your dog in hot/humid weather. Make sure you don't let your dog gulp a lot of water or eat a lot of food right after exercising as larger breeds are more at risk for a life-threatening illness called bloat.
So to summarize, I would recommend talking to your vet, realize that puppies have a lot of energy, gradually build into an exercising program, and stay clear of warm weather. Remember, your pup is still really young and I would be very careful before I started running him.