On the Ford V-10 those symptoms mean one of 2 things especially when the OD button light comes on and the OD drops out. This is a common problem.
1. loose wire in the steering wheel.
2. Torque converter
I had this happen to my MH.
I pulled into Ford and they knew right away what it was it is a KNOWN problem. In my case I was not a winner.:( They opened up my steering column first and it was not the loose wire. I had to replace the torque converter.
IMHO I would find the first Ford Dealership you can find and pull in and have them decide which one it is. Ypou might just luck out and it's the loose wire in the steering column. Took them all of 10 minutes to get my steering wheel off and check where the known loose wire is.
When the OD first dropped out I kept driving. Trust me don't. I was doing 70 mph when it the OD dropped again and it felt like I had left the whole trans in the road. Then you are in total limp mode.
Good Luck.
We must be willing to get rid of the life we've planned,
so as to have the life that is waiting for us.