what exactly do these do? If it goes bad how will you know? I'm still trying to figure out my overheating problem and have heard that if the intake temp. sensor goes bad it throws off all kinds of things from the cooling fan to the shifting in the tranny.

 

What year/model/engine/induction do you have?
To settle one question, it's not going to affect the automatic trans on a third gen at all, because it isn't computer controlled. The computer controlled version (4L60E) came out in the F-bodies in 1994.

 

The air intake sensor is just going to adjust stuff like your fuel and ignition due to what ever temp it is. If it were bad then the computer should give you a Check or Service Engine light.
The 700R4/4L60 Trans is computer controled but its only the TCC (Torque Converter Clutch) and the Computers temp sensor on the intake manifold when bad can affect the TCC. If it were bad you would feel the TCC engageing and disengageing while cruising

 

i have an 89 rs. 2.8l v6

 

i ordered a new air temp. sensor and engine temp sensor . they were cheap and figured why not?