Car does not start during frequent stops. The code came up as P0118. ECT sensor?

What is your question?

I own a 1999 VW Passat 2.8l V6. The check engine light has been coming on periodically, the code is P0118 (Engine Coolant Temperature Circuit High Input). I was wondering what steps I can take to resolve this issue. Currently, the only symptom is that when I try to start the car the starter cranks normally, but the engine won't start. After a few tries of turning the key, it usually starts. Sometimes I wait a few minutes and try again. If the car has been sitting for a while (like overnight or a couple hours), the car starts fine and the check engine light doesn't even come on. What's the worst case scenario? The car overheats without warning because the temperature gauge is broken? The car has problems starting usually only when I am making frequent stops.