Help! Something isnt right!

[RemyDodge]

Hey guys! I've just started a new job in FL and dont have my tools here yet, but have a few friends that do. Here's my problem.

I have a 98 ram 1500 4x4, 5.2L. Today while slowing to a light, the ABS light came on, the BRAKE light came on and the speedo died. I put my scantool (the only tool i brought with me) on it and it said P0500--speed sensor malfunction.

I believe this is the sensor on the 46RE trans. I replaced this with a new one from the dealer last december, approximately 5000 miles ago. the old one had a fine metal powder stuck to the magnet, most likely trans clutch/friction plate material, as the trans was rebuilt ~20,000 miles ago. I figured it was just wearing in. Its too dark and about to rain to mess with it tonight.

I pulled the sensor on the trans,and it looked claen, but i wiped it off anyway then put it back. Still no codes. Today it threw the check engine light with a P0500 speed sensor A malfunction. please help!

the book says...If you pull the plug on the VSS and probe the orange wire (+) and then black. L blue wire (-) you should see 8 or so volts. Move the (+) probe to the white/orange wire and you should get 5 volts or so.

My 96 5.2L 4x4 VSS is on the transfer case and shows about 5 volts on each and seems to work OK. If the voltage checks out I would pull it and take it (the VSS) to the dealer for a check.

there are two[2] speed sensors / ones for the speedo and ios located in the transfer case tail shaft / the other one is on the tranny somewere