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I had the same happen to me and it was the ABS Module.
The dealer will read out the codes and if indicated change it out.
Took about 60 minutes while I waited.
This happened with 10 days left on my warranty.
As to the Transmission flush, go for it now.
When mine was flushed the Soleniod's in the Transmission started acting up in one or two days, "Slip Shifting" and Slamming from first to second on hard acceleration only.
This way if something goes bad the Volvo warranty is still there for you
99, S80, 44,321 miles
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