UPDATE --

I just had a wheel alignment and the lights went away. I guess the problem was on the speed sensor. Since the alignment was off, the sensors detect different speed on each wheel.

Anyway, if anyone see this problem in the future. They know what's the cause. :thumbup:

It most likely wasn't a wheel speed sensor in your case, but the steering angle sensor. When you had the control arms replaced and the alignment was off it can cause the steering angle sensor to see the steering wheel as turned but the DSC sees the vehicle as traveling straight through the wheel speed sensors. This causes a plausibility fault. Once the alignment was done and the steering wheel was once again straight the plausibility fault isn't present anymore so the warning light goes off. The fault code will still be stored in history codes in the DSC till they are cleared with a GT1 or other BMW software.