I had some similar problems with mine. I had the dreaded flashing OD light but reset it a few times to delay the inevitable. I would be back to normal for a few days and then start up.
I was driving back home up the 134 to Pasadena and then the the tranny started slipping worse than usual. The fluid dumped out as I crested the hill and I was smoking bad. I was able to coast off and pour 2 quarts in to limp 2 blocks home.
I ended up taking it to a trans place the next day. I went to get the estimate and take a look at the tranny a few days later.
Basicly they had to replace everything. They showed me all the metal in the pan (fine graphite like "powder" & the chunks). They said the the fine "powder" was clogging the valve body and the soleniods and was giving the error code and making the OD flash.
I was getting ready to buy the TC solenoids and change the fluid right before this happend. Something always totally craps out before you get to work on it.
Have someone read the codes for you and it could be something minor.
You could try resetting the computer temporarily and then change the fluid, the filter and/or change the solenoids while you've got it open to delay a rebuild .
BTW mine has around 190K on it.