Welcome to 2CarPros.
I believe you are correct. When the computer senses a problem that will result in damage or failure, it goes into limp mode. Basically, you have one drive gear. Its purpose is to get you off the road, to a safe place, or home.
Now, there are a multitude of problems that can cause this to happen. Have you tried scanning the computer to retrieve diagnostic trouble codes? This vehicle has an OBD1 computer system.
https://www.2carpros.com/articles/mitsubishi-trouble-code-definitions-and-retrieval-procedure-for-odb1-system
You will need an analog type multi meter to retrieve codes. Do this and let me know what you find. Honestly, without getting the codes, it becomes a guessing game.
Let me know what you find.
Joe
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Tuesday, October 22nd, 2019 AT 6:09 PM