OK, I'm going to guess that it's the one at the tail end of the trany, on the driver's side. Anyway, lets go take a look.

 

Took it out, looks like a pick-up sensor and timing gear combonation to me, and the parts store has one. Be right back.

 

Correct. This is the output shaft speed sensor. Its the tan plug on the bottom driver side of the OD housing.

This is my OD housing during the build.....

 

IT'S ALIVE!!!!! Thank you Coal Train for all the coaching, and help that you've provided. Hope to be good for another 140k. I will and a note, the outside diameter of the sensor tip was covered with fine metal particals. Maybe that was giving the sensor a false reading, and I guess that I should've/could've tried reusing it after cleaning it up just to see if it would work. But a new sensor was only $22, so what tha hell. Just hope the fine metal particals isn't a forwarning of something else. Now we might have to talk about those HP & Torque boosting computer moduals

 

SWEET!

Gotta say, that's only the second one of those I've seen go bad.

 

Not sure if this will help you, but I once had a truck do this to me. I had to put a new tranny in it in the end. problem is that the new trannys have plastic gears that start wearing out around 30k miles. when you simply change the fluid, the transmission fluid acts as a detergent and actually "washes" out the gears faster. next time you are driving it or simply let it warm up then check the fluid.if there are alot of air bubbles on the dipstick then this could possibly be your proble. good luck and I hope this helps you!