Ford Ranger 94' 4.0L starts fine when cold but

you might need a new whole transmission or new brakes or brake fluid.

Do you mean the gear selector physically won't move into the Park position or that it does move to indicate it is in Park but will still roll?
I'm sure you know you have to pull the gear selector toward you to get it into Park.

Sound like a problem with the Safety Neutral Switch, its possible that need adjustement. Keep in touch.

Hope this helps.

it is limited to that rpm when in park or neutral

Computer is keeping the engine in cold start mode because of a faulty temperature sensor.

ok mine did this untill i got an air pocket out of the coolent system then it was find.

It sounds like you aren't getting fuel out of the cold start injector... remove the injector when engine is cold and switch on ignition... you should get a fine spray pattern for a few seconds... if not then there is probably a problem with the cold start circuit (Temp sensor fault), or the injector is faulty. pull electrical connectors one at a time and look for corrosion... Hope this helps...;-)

check your crankshaft sensor to see that its not got a broken wire

what is the (revolutions per minute) rpm of your engine when the torque converter engages, was the torque converter rebuilt too? what type torque converter is in the ford ie low stall where it engages the gear box at around 900 to 1000 rpm. has there been any power band adjustment by the company that rebuilt your automatic transmission after the insallation.

first of all make sure battery is fully charged auto zone will test batteries for free but if you can get it jumped and running while it is running take the positive side cable off the battery and if it dies then it is the alternator and also look at the condition of the drive belt but if you do all this and the truck does not start spray very little starter fluid in the throttle body if it starts ask yourself when was last time I changed the fuel filter and also have someone to be back by the gas tank to see if you can hear the pump and check out the fuel pump relay which is normally under the hood on the drivers side before changing the fuel pump