WHEN YOU LET OFF THE GAS CAR JUMPS AND JERKS ALSO WHEN CAR IS FIRST STARTED IT SURGES AND TACS UP

It may be just plain worn out (341k wow) you couldn't blame it could you

You got ripped off by the mechanic. A good mechanic can pinpoint the problem by using a scan tool. Take vehicle to autozone or similar and have it scanned for codes this will give you a idea what is wrong. I believe the problem is exhaust related because of the blinking light.

Sounds to me like a clogged fuel filter or your fuel pump is going out.....I would check and replace the filter first......

you may not have trans problem at all. most of the time your motor mounts when worn out or broken can cause a hard ****. Put your car into gear with your foot on the brake and give some gas abrubtly and see if your engine jumps. do the same in reverse. remember to use the brake and have your hood open to see if your motor jumps.

get a scan tool to retrieve the dtc (diagnostic trouble code).
you will get a misfire code.
p0301 for cyl 1
p0302 for cyl 2 and so on.
i can't recall if that engine has plug wires or coil on plug but if its coil on plug replace the coil corresponding to the cylinder misfire

Check your throtle position sensor. You need to check the code when the light is on.

fuel filter or injection prob. get codes read for free at Autozone

Two symptoms here Keith, and I just had this, same car year and model. The pedal could either be a bit loose, check the cable and throtle. Have someone check, when the cars in neutral,they manually rev it, and watch the RPM's. They should go 3-4 as normal. If this is the case, and its not the cable or pedal, REPLACE spark plug cables and wires. Odd, but that was the fix to mine. Hope it helps.

take your car to your local auto parts store have them check your TPS. hope this helps

i have a 2004 hyundai santa fe and i've had the same problems. it's so random when it happens but it seems to be when its a bit warmer outside.. above 70 degrees. it's when i press the gas from a stopped position the car just almost dies. i've pulled out in traffic and thought i was going to get killed. then the car accelerates and the tires squeal and the engine revs super high. the car jerks and its very scary. i bought the car new in 2004 and it started doing it after a few years and it still does it. it's not the gas pedal. it seems like a glitch in the computer or something. it's very dangerous!