overdrive light blinking
 

overdrive light blinking on 2000, with 3/0L flex. High rpms, like overdrive is off. Cut truck off and back on, no problem coming home. Pulled code p0731

any suggestions?

My 02 did the same thing. It also had trouble downshifting into third while in cruise control. Took it to dealer and had codes pulled since these problems are indicative of a troubled tranny. Service manager recommended having the filter changed along with a pressurized flush, clean and refill of fluids. This has taken care of the problem now for about 6 months. The next step would be to take the tranny apart for a rebuild which would cost far more than the flush. I always try the cheap option first since I'm a diehard optimist. Just don't ignore this because this could result in catastropic tranny failure. Lots of info about this online so do your homework.

I hate to say it but my tranny did the same thing and it was toast. The rebuild is gonna cost an arm and a leg. If I were to do it all again I'd swap in a 5 speed. If the OD light starts flashing, something is wrong with the tranny no matter what someone else tries to tell you.