From my Haynes manual:
"If the TCIL (transmission control idicator lamp) flashes, there's either a sensor failure or a short in the electronic pressure control circuit (EPC). In either event, take the vehicle to the dealer (repair shop) to have the system serviced"
Have them power flush the system while they are at it.
You may also want to take it to a place like Advanced Auto/Pep Boys. I think they will plug a OBDII reader into the truck and tell you if there are any trouble codes...and they do this for free!!