Automatic Transmission Failure Light HELP!

[citrusonic]

Hello I have 92 325is Automatic, every morning when I first start the car the light comes on, its now begining to do it more often, even during the day. When the lights on the car drive in (Limp Mode) very slow, however when the light does turn off the car drives like a champ. its got 67k on it. Can it be the transmission computer? if snot then what is the probable cause? Has this ever happened to someone, how did you fix this?

Thanks this problem is driving me mad

[skawful]

i had the light go on a couple times with no problems
=|