I got a code of 0700 & 0730? on 2005 Chrysler 300

The reading stated shorted or open circuit within transaxle, Failure of transaxle control module. Also, TCM fault, mechanical transmission fault. In laymen's terms what does this mean? New Tranny????

Asked by for the 2005 Chrysler 300
Well that has to do with the Transmission in your car as well as the Gear Shift too. You better take that to either your dealer to get it done or to a reputable mechanic that you trust to get it done. That code is for the Transmission (P0700) and the other code is for the Gear Shift problem that does connect into the transmission itself.

Hope this helps.