If your mixer only runs on high speed there are 3 things that can cause that. The first thing to check will be the speed control plate, Remove the trim and end cover on the mixer, the first thing you should see is the speed control plate, this has 3 screws on it, try adjusting the top two screws 1/4 turn, this should slow the mixer down, do not over tighten. Also check to see if the control plate spring is unhooked. If the spring is unhooked, attach to bottom of the control plate, and squeeze the spring end.
If this does not fix your mixer, check the wiring of the mixer, you can locate a wiring diagram on the last page of the service manual.
If the speed control plate is adjusted correctly and all the wiring is correct it will be your speed control phase board. You can test the speed control phase board to see if it is shorted. With the line cord disconnected, pull the t-b ar contacts to open, and insert a piece of paper between them so they cannot close. Reapply power-the mixer should just run or buzz trying to run. If it operates at full speed, teh phase control board is defective and needs to be replaced.
Here is a link to the service manual: http://lib.store.yahoo.net/lib/mendingshed/kitchenaidservicemanual.pdf
This will aid you in taking the mixer apart, troubleshooting and putting it back together, remember the wiring diagram is the very last page.