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4wd/2wd dash lights blinking and SRS light stays on, lacks pwr. Tranny problem?

(2006 Mitsubishi Montero)
in Fort Collins, CO on May 09, 2012
I recently purchased a '96 Montero LS, (200,000m), and noticed a lack of pwr when starting out. Also, the dash board lights for the 2wd/4wd are blinking. The front tire lights blink and the rear drivers side light stays on. Is this a tranny prob? The SRS light also stays on. Thanxs for any advice!!
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