2000 Turbo MAJOR PROBLEMS today

[bp_deaconblues]

Hi guys, virgin poster here so seeking your advice. I have a Silver 2000 Turbo Beetle that has 118k on it. This morning on the way in I noticed it had a hard time going into reverse, almost slipping. When I started it up, right off the bat the red temp light came on. 5 mins later it shut off but then the check engine light came on and stayed on. All the way in the red light would turn on and turn off. I am "hoping" it's just my transmission fluid that needs to be changed. The engine was not running hot in anyway. Would this also cause the missing in reverse? I love the car and know I've gotten alot out of it but I have always had censor issues with this car as well as tail lights going out. Any advice to this problem would be mucho appreciated!

Thanks!
Brian

[jackfrost]

have you replaced the timing/waterpump et al service? have you changed the temp sensor, are you low on coolant in the reservoir? check the resv. first and fill it ONLY with distilled water and see if that takes care of it, next step if not done so, replace the timing belt, stretch bolts, and waterpump. as far as sticky reverse? 5spd or auto?