I had the same problem. No shift out of first till a very high rpm, then a slam-shift to second, and nothing else. My speedo went nuts as well.

It turned out to be a faulty output shaft speed sensor. there are two shaft speed sensors, one for input, one for output, and the computer uses them to determine clutch slippage. if one dies, the computer sees it, and forces a 'limp-home' mode. I dont think it lights the SES when it happens.

The sensors are like $40 at autozone, and its a 5 minute deal to change them.

Tim