97 GTP cutting off

I have some questions about my 97 GTP. Lately, (roughly about once a week or so) it has been cutting off on the road for no reason whatsoever. The tactometer (sp?) drops to zero occasionally without the car cutting off. Yesterday I took it to Autozone and they used their diagnostic machine and told me that I had a crank sensor out. But this morning on the way to work the oil light came on (just had the oil changed) along with ALL my dash lights and the front tires locked up and the car cut off. All of it happened at once. I ended up stuck in a driveway where I had swerved to keep from hitting oncoming traffic when those tires locked up. Does that sound like just a crank sensor? Not to me. Strangely, just like all those other times when the car cut off it cranked right back up after a minute and gave me no problems for the rest of my drive to work. What on earth is going on?

My neighbor took a look and said something about the car being in "limp mode" and that all it needs is a good servicing. I don't know what to think. What is wrong with my car and about how much is all this going to cost me? Any help would be greatly appreciated.

Sure sound like the ckps. There are multiple threads on this. This is the latest: http://www.automotiveforums.com/vbulletin/showthread.php?t=461492

That is you crank shaft sensor because I had the same problem. Take you car to the shop and get it fix and trust me that would solve all of your problems. The only reason the oil light is coming on and everything is locking up is because the car is cutting off. But once you get the crankshaft sensor replace with a new one, your problem will be solved. So go ahead and do that

Any idea how much that is going to cost me?