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I've got a 96 Ford Van that the overdrive light was blinking, my Van is undriveable now, it will move a few yards then it's like the brakes sieze, but it's in the transmission. I'm new to this like you are, if I find something I'll let you know.
When the OD light flashes the computer stores a code. That code will give you a good idea of what's wrong. There are at least 50 things that could make the light flash.
Find a place with a good scan tool that can read Ford specific codes. Not all scan tools can read them. Post the codes here and we'll try to help.
Rezvani's Latest Post-Apocalyptic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.