Seeing that you have high mileage it sounds like you need some general maintance done.
If your truck is a 4x4 the clicking sound is most likely due to a bad cv joint.
ABS, check your fuse, and call your dealer to due a vin check to see if your truck is covered under warrenty.
A Flashing CEL is a bad thing. Purchase a code reader and find out what codes you have (most likely due to plugged EGR and busted intake manafold gasket).
Oil, Common, due to plug EGR, EGR Port, highway driving, plugs PCV (replace yearly), and plugged holes in your piston rings. See my FAQ link below for a ton of DIY info on how to help curb your trucks thirst for oil.
Acting like it is going to die, commonly is due to a leaky intake manafold gasket.
Finally, again, check out my FAQ and do ALL of the 30k maintance things listed there, including new plugs, and a timing belt.
Is this going to cost some money and time? Yup, do it now and you'll get another 135k out of the truck. A little maintance can go along way.
-Ryan