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Flashing Arrow, CEL on 98 V70 T5 V70-XC70 1998

My 98 V70 T5 Check Engine Light just turned on. Also the flashing up arrow on the dash along with the little lights by the shifter flashing from "E" to "W".
Pulled two codes P0120 and P0123. Checked the transmission fluid. Level is ok, not dirty or burnt smelling. (It most have been changed before because it looks nice and clean.) The vo has 115,000 miles.

Cleared codes and same codes were set again right away.
On initial start up it idles high for 30 - 45 seconds or so. Then it idles back down to normal idle. TPS problem as possibly indicated by the code?
Speedometer and tach are working. Auto transmission does shift but I think it only shifts up to 3rd gear and stays there. Did a bit of the ratchet shifting others have mentioned related to PNP without any change in flashing arrow light.

Should I try replacing the TPS? PNP? Vacuum lines?

The car starts and runs fine, but it does appear to be in limp mode.

Also the ABS light has been off and on.






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