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First volvo, first problem (240 overdrive) 200 1990

I just bought my first (used) Volvo, and I'd very much appreciate any help with the following:
First, the overdrive light on my '90 240 was going on and off by itself, but it didn't seem to bear any relation to the actual operation of the overdrive. I just left the button on the shifter alone. Now the overdrive ITSELF (and the light) goes on or off, sometimes every few minutes. It's worrisome, esp. on the highway.
Question 1: I am hundreds of miles away from my home in Brooklyn, NY. Can I wait to deal with this when I get back to my trusted mechanic; is this bad for the car? Are there driving tips (ie. should I stay under a certain mph) until I get it fixed? Is it dangerous to be in reverse when the overdrive light is on?

Mostly, the overdrive light now wants to stay on. If I smack the dashboard, I can make the light go off and the car suddenly feels freer (I assume that means I can access 4th gear).
I have to head back home in a couple of days; about a 200 mile drive, so any guidance would be most helpful.

Thanks.






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