01 Avalon, reverse light staying on, is this a bad sign?

Hello, I have a 01 avalon with 65k miles. For the past week the reverse light (and sometimes CEL light) will come on and go off after a few minutes. The car has run fine up until tonight. The reverse light came on and went off after a few minutes, then came back on again. The second time it came on the car started bucking/jerking like it was downshifting and upshifting harshly. It felt like someone was bumping into my back bumper. After about a minute the light goes out and car runs fine. Is this a sign of impending doom for the tranny? If so this car will be traded first thing in the morning.

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specman2
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