1990 camry symptoms

HI Everyone,
I have recently purchased a 1990 camry, 4cyl, 117k miles, 3s-fe motor, 2.0, auto trans.:banghead:
from reading this form I have narrowed my problem to the speed sensor mounted on the trans. however I need conformation before I go and buy the $$$$ 224.00 $$$:banghead: part from autozone.
The symptoms are:
-speedometer and odometer not working
-RPM, temp. and fuel gagues work fine
-when driving: car seems to start moving in second gear
Does not shift at any speed
RPMs shoot as high as 4-6000 moving 35-45mph
feels like the trans is locked in second gear
No response when shifted in to D2, L, or od/off mode
cannot engage cruise control while driving
Chugs gas like nothing
-Trans. fluid is bright red and apears fresh
-no Check Engine light
-cv half shaft sounds broked on passanger side, dont know how long its been broken.:banghead:

I originally thought that the tranny is bad and I'm out a few grand to fix it but now Im hoping that the speed sensor may solve the problem because the car drives fine aside from the shifting!
Any help I can get will be greatly appreciated!!!
also if the problem is the sensor can you also tell me how to get to it. I dont see it. Do I need to go through the wheel well or am I not looking hard enough, the chiltons manual I have does not help with the speed sonsor at all!

If there is a fault with your VSS, your "Check Engine" light won't come on, but it will record a trouble code 42 in the ECU. Check your Chilton's or Haynes manual on how to retrieve those codes through your diagnostic connection port under the hood to verify.

I don't know where the VSS is located...if I find out I'll repost.

Why did you buy it?

Camry for $800, I fell for it.
Dude told me everything is fine, he's getting rid of it cause its his second car and he needs money for school. I Trusted him. I have trust issues...I know... Idiot MEEEEEE!!!!!!!!!!
Thanks for you help though, I'll take it to autozone for a scan today, and see if I can retrive any codes. I'll post update asap.
Thanks again!

Your car uses the old OBDI fault detect system. Autozone can only read OBDII & III codes. You can read your codes yourself in your driveway. Open the FAQs thread at the top of the forum. Scroll to post #33 (little yellow number in upper right of every post). The first link in the post gives you the procedure. It involves jumpering two contacts together on the test plug and counting the check engine light flashes. You'll read of an SST tool. That's Toyota lingo for a paperclip.

Or...: http://www.autozone.com/az/cds/en_us/0900823d/80/13/ee/16/0900823d8013ee16/repairInfoPages.htm

The VSS is located on the rear part of the differential housing. There is an electrical connector and a hold-down screw attaching it to the housing. You might be able to get to it by removing the air intake hose and resonator.