YO!
Since you have a 96 like mine, you have the OBD II system and a Code Reader will help you now as well as in the future to DIY; there are some great deals on Actron OBD II or other brand Code Readers on the www and probably locally for under $75.00 whicj is lower than what most shops will charge you for the 3 min diagnostic test w/a similar reader; I have the actron cp9135 which is superceded now; so look for one that is = - see if there are any rentals that may be avail @ parts stores.
"My hunch is it an electronic sensor because when i first got it. a sensor in the rear diff went out causing the speedo to not function as well as difficulty shifting. Although, this time it's worse. Not only does the speedo not work,but the tranny sfifts very hard and at different r.p.m.s, and some times not at all."
My guess from here, esp if the Check Eng. Light is on is another Vehicle Speed Sensor or it's Tone Ring (mtd in the differential) Malfunction; some info on this;
symptoms are;
loss of anti-lock brakes
the "anti-lock" or "brake" warning lamps on the dash may be lit
the speedometer or odometer may not work properly (or at all)
your vehicle's RPM limiter may be decreased
the shifting of an automatic transmission may become erratic
other symptoms may also be present
if you get a code reader, P0500 code will pop up if this is the problem
if not, check all wiring and connectors that lead to the VSS
If the wiring and connectors are OK, then check the voltage at the VSS - I don't have my Ford Bronco CD w/me now to see what this test is..
If everything looks OK, & Tone Ring looks good, see below on this, replace the VSS
some more VSS info;
Sensor, Vehicle Speed Sensor (VSS) pic & Operational Description & Parameters (click on Sensors) Source: by Ryan M
ABS Sensor (also called called VSS) Removal/Installation (rear diff);1 bolt holds it. clean around the area first so crap does't fall into your diff housing through the hole. be careful with it, the sensor housing is just plastic, and the magnet inside has wires that run to it. basically once you pull it, you will see it has a little rubber o ring for sealing (and it fits snugly, so if you've never removed it, it might feel like it does not want to come out at first). You can look down into your diff and see that it sits just right on top of a "toner" ring which turns with the carrier. The magnet at the tip is very close to this toothed ring, and the interuption of the magnetic field by the teeth as they pass close to the magnet creates a variable signal, which can be "interpreted" into a speed reference for the computer, tranny, etc.
Source: by Shadofax
ABS Sensor (also called called VSS) pic (rear differential) in a 95
Source: by Broncodell
ABS (RABS) Sensor (also called called VSS) Removal/Installation article & depiction Source: by Chilton via Waltman
and check the Tone Ring for the VSS, esp since the VSS was replaced earlier
Take off the rear diff cover. Check the Ring Tone gear. It is located on the left hand side of the ring gear. Look to see if any of the teeth have been notched (from debris floating around in the diff.) Usually a spider gear. If the ring tone gear has been notched, it will need to be replaced to fix your speedo reading. Jack it up and rotate the tires to look for the teeth to be notched/broken/bent...
by Bighibbi
Sensor, VSS (also called called RABS) Tone Ring Location pic in an 8.8 - rear diff
Source: by Steve83
Sensor, VSS (also called called RABS), 4WABS & PSOM, PCM Wiring Diagram & Info for 94-96 Bronco Source: by Steve83
if it the VSS, $24 - $30.00 at Ford or NAPA
btw, a bad VSS or dirty/damaged Tone Ring would also likely set off the ABS light
have to work now; will ck out the 4x4 light later...there is a test for this..
GL!