Brakes are fairly easy to overhaul on a Dodge.
It sounds like you lost a vehicle speed sensor, first of all. The speedo and cruise control rely on this sensor to figure out how fast the truck is going. Odds are that your transmission is sloppy, for the same reason. No vehicle speed sensor = no way the powertrain computer would know when to lock the torque converter up.
However, if your transmission problem is separate from your lack of a vehicle speed sensor, you might could try to find a replacement transmission from a junkyard, instead of paying the $2000 or so to overhaul yours.
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