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ABS light and P1550 code S80

hello,
I have an 99' S80 and the abs warning light has been goin in intermittently for a month. yesterday the check engine light came and I pulled a P1550 code. From what I gather so far, this is a speed sensor issue to the transmission, and I suspect I have a faulty sensor on one of the wheels. What I am wondering is whether the check engine fault will throw the transmission into "limp" mode as I need to drive the car for another couple of days before I can get it into the shop. I don't think clearing the fault code resets the trip to limp mode, if that indeed will occur. Any thoughts on how this works?
Thanks






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