another trans fail safe situation

[itstony]

hi fellow x5ers.

i know this might be one out of a million trans fail post thats been up. but i finally experienced it first hand. so as i was heading toward summer school in the morning, i went to pick up my friend at her house before we went. when i started the car i saw the code on the dashboard and i was frightened for a bit because none of us wants to see it. i tried turning it off and starting it again, but DSC, ABS, Brake, SES were all on but i could actually drive the car..but very sluggishly and often the ABS goes on.

i ended up making it to the school because it was nearby and my dad came to get the car afterward since hes a mechanic. when he turned on the car all the lights were off and he had the obd scanning tool i believe thats what its called. i havent heard from him yet since he's still at work but hopefully my baby is fine.

alittle more info might help for now until my dad tells me what is actually wrong with the car since i read that trans fail could be a variety of issues.

-00 bmw x5 4.4l
-139kmiles...yikess! i know
-SES has been on for at least 2 weeks
-cleaned the car yday/and i took out the spare tire in the trunk to see if i can experience any significant power/acceleration off the line.
-the thing with taking out the spare tire was i forgot to put back the...rod that holds the tire there..i dont think that would be the issue there would it?

sorry for the long read..hopes someone can chime in. have a good night everyone!