Trouble Code advice
 

'98 Grand Caravan Sport SE

Occasionally the van will lurch a bit, like at a stop light. It also sometimes feels like it forgets what gear it is in, and drops down a gear. The engine races, the speedometer pegs out for a minute and then it returns back to normal (at least as normal as this van ever gets.)

I pulled two trouble codes and have included the descriptions below as I found them here:
http://www.troublecodes.net/chrysler/95-98truck.shtml

P0700 - Transaxle Or Transmission Control System Malfunction
P0720 - Low Output Speed Sensor RPM Above 15 M.P.H.

The van has 140K and is on it's 3rd transmission.

I have to check but I *believe* we have also had the input & output speed sensors replaced within the last 12-18 months.

Advice?

Ck the wires going on the output sensor. You may have a wire starting to break or a bad output speed sensor.