Miracle on Purdue Pl!!!!
Okay, I did this by only dropping the tranny and had plenty of room, so I pulled the top cover off to find the shift rails, I was then able to discover what exactly the problem was. Circled in the red is the problem, a whole piece of where the shift paddle makes contact was sheered off!!!! I got myself a retractable magnet at the Advanced Auto and fished out that broken piece, took a minute but soon enough I got it out.
old
new
So I went to the junk yard, bought a new one off a '98 Explorer, new potential problem, circled in the yellow you'll see.... The new top cover only has one sensor!!!! On the old part, it bolted in the side while the new doesnt even present that option...... (could anyone explain this to me?)
After consulting with a transmission tech at a Ford dealer, we figured out what the sensors were for and which was which. The one circled in yellow is the neutral position sensor/safety switch, and the one on the opposite side is the reverse sensor operating your reverse lights...
I felt that I personally dont need the neutral position sensor, its not like the truck wont run without it so I went ahead and installed the new part, little trouble gettin it right but finally got it so that i could shift through all gears, put everything else back together and started her up and had no problems driving it, went through each gear just fine.
Thank you Spdrcer34, you got me into the whole thing and by simply explaining what was what I was able to communicate what I needed ultimately gettin my truck fixed!!!!