Ford Repair: 98 ford contour o/d light flashing, ford contour gl, bringer of bad news

Question
I have a 1998 ford contour gl with the 2.0 in it and my over drive light is flashing I was diving on i94 going about 65 and I went to hit the gas a little bit and it just revs up so I pulled over and let it sit for about an hour the tried to drive it and it goes in 1st gear just fine but it slips going in to second gear and then when going about 55 it doesn’t go in to over drive and the light just flashes on and off please help me

Answer
Most likely, your transmission is failing.  Before I say that for sure, start the car up and check the transmission fluid.  It should be clean and full.  If it's low, add some and see if that helps.  If it's dark in color and smells bad, the transmission is probably burned up.  Hate to be the bringer of bad news- I've been there too and it's really a bummer.  Good luck,
Jason