What you have done by unplugging the VSS sensor is removed the ECM'S source of vehicle speed, so know it won't lock the torque convter because it doesn't know how fast your going, it can also cause a few running issues, such as you let of the gas to slow down, the ECM sees a drop in throttle position but no drop in speed as you slow down. This manages the amount of fuel supply and timing adjustments. It can also cause your Service Engine Soon or Check Engine light to come on, setting a code for loss of speed sensor signal. The VSS is a magnetic pickup counter, there is a reluctor wheel on the output shaft of the transmission, changes in how fast the shaft spins determines vehicle speed.
Why did you hook up an auto meter gauge? Was the factory odometer not working?