So I am driving down the road and the SRS, SERVICE, ABS, TRACS, CHARGING LIGHT and LOW FUEL, lights come on. I go home clean all the terminals going to the alternator, battery, and ground and the problem is still there. However, the next day I am driving down the road when I loose all my electronics (Radio, heater, Gauges) but the engine is still running so I pulled over and once I had stopped the transmission arrow was flashing at me. I am having the alternator replaced, but should I have some concern about the Auto transmission?

 

all those warnings suggest you experienced a low voltage event. when there's not enough voltage the computers can throw all sorts of odd errors. The transmission also has a computer which will set fault codes and display via the upshift arrow. You can use the diagnostics tool (that little black box on the passenger side by the radiator) to view and clear the codes. volvotips.com has a good write up on the codes and the various jumper settings for the various diagnostics. Also, if your battery is over 4 years old, it probably needs to be replaced now as well. A failed alternator can wind up killing an older battery.