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The computer will have a code(s) stored in memory if the OD light has been flashing, which will aid in the diagnosis. If it feels like the brakes are on you most likely have a bind-up situation inside the transmission. In 2001 the 5.4L Expedition came equipped with the 4R100 transmission, and the 4R70W trans was used behind the 4.6L engine. There was a recall (expired) on the 2001 4R100 transmissions due to a defective intermediate mechanical diode. Some vehicles slipped through the cracks and didn't get the transmission replaced under the recall.
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