Check engine light comes on and it goes into limp home mode

What are the codes?

run a scanner on the system to determine codes to diagnos problem

CODE PO120 - TP SENSOR 1 SIGNAL RANGE PERFORMANCE. CODE P1516 - TAC MODULE THROTTLE ACTUATOR POSITION PERFORMANCE. CODE P2135 - THROTTLE POSITION SENSOR 1 - 2 CORRELATION ERROR. THIS IS A DEALERSHIP FIX YOU HAVE PROBLEMS OR FAULTS IN THE THROTTLE POSITION SENSOR.

What is limp mode, and it is MiL light( mal function indicator light)it is not EML. Please specify so i can help

Hi ,
You need to have the fault codes read,this will point you in the right direction,the revs die as it is going into limp home mode to protect itself,by turning the ignition off and then on you reset the ecu untill it detects the fault again.

change the air flow meter.Heater plug light flashes to tell you you have a problem.Switching the car into limp mode.

this must be a 2.3 miller cycle. it is going into "limp home" mode. when this happens, it wont rev over about 3k, and tcs off/tcs lites come on. it feels a lot like fuel cut. probably the check engine lite is also on, and what codes are stored? most common is P1525/26 and 1540, which are the solenoids that control the abv. the abv controls boost, and when this valve is not working proplerly, the pcm stops communication with tcm, and it goes limp home. if you can locate the solenoids, they are on the back of the engine, right next to the egr valve. from right to left, you need to look at the second and forth. you need to ohm them when they are hot. normal is around 26. if they are over 30, or 0, they are bad. there are other possibilities, but this is most common

this is called an idiot light in the trade, it is telling you that you have a major engine problem and your engine is going into "limp home mode" get your dealer to check it out

The revving to 2000 then dropping the 1500 likely means that it is in "limp home" mode. When there is a serious problem, the car will put itself in this limited mode to avoid further damage, and to get itself back home without stalling (hence the name). Since it stalls, its likely that there is a serious problem with the fuel system, and the limp home mode will not help you any more since you keep driving it like that. 
As far as the problem goes, it could be just about anything. Almost positive it has to do with the fuel system, but could be so many different things.
Hope this helps!