[LPM911]

Hadn't driven the e46 wagon [EDIT: 2002 325iT 5 speed] in a while and after all that rain, I got a dashboard full of lights. I searched the typical BMW forums, but thought I'd see if anyone here had the issue and can direct me towards a resolution. Anyways, here's what I'm looking at:

Amber: DSC, ABS
Red: BRAKE

Also, the car makes a single ding at you when you start driving, then shuts up until you restart the engine.

With all the rain, I can definitely confirm that the ABS is not working. Didn't have a good chance to play with testing the traction control yet. From reading the forums, the expensive fix sounds like replacing some modules. The cheap fix is replacing the wheel sensors.

Anybody had this problem? Any advice on solution or further troubleshooting? Is it safe-ish to drove like this?