2003 Chrysler Concorde Code PO340

My wifes car developed this problem and the resulting code PO340. My question is. How would a handy DIY kind of guy make repairs?

1- Where is the cam sensor located and is it something that I could replace in the garage.
This is the second one that has gone bad. Last one cost $400.00+ to replace.

2- Could it be something else or any additional concerns I should look for.

Thank you so much for your time and consideration