1999 GMC Yukon Sudden engine racing and acceleration proble

My daughter was driving her 1999 GMC Yukon when it started to idle very high and accelerate on its own. A diagnostic test revealed the following code: PO320 Ignition/Distributor Engine Speed Circuit Malfuntion.

Could this be causing the engine to race suddently without warning? Most of the symptoms I read about this problem seem to be related more to the engine idling very slowing and stalling.