What will happen if my Transmission dies while I'm driving?

So, I drive a 1997 Ford Explorer (about 175k miles).
I recently had my transmission fluid changed. It was black and tarry and my mechanic showed me 3 rivets that he found in the pan. He said that means I have about two left and when they go, my transmission is dead. He said they could fall off any time from right now to years and years from now. But it would be the best idea to just start car shopping…

I'm, but I d like to milk it until I can find a good deal on a decent car. Probably another month or so if possible…

So basically, if I lose the last two rivets (I'm assuming I d lose the belt at that point?) while driving… What is likely to happen? Is it something I should risk?

TL/DR: Transmission in 97 Ford Explorer is losing rivets. What happens if it dies while I'm driving?

Generally, you just stop. Engine revs, but you don't go any place. Embarrassing if you are at a green light in heavy traffic. Otherwise just annoying because you have to call for a tow.

You stop, impede traffic, and embarrass yourself. Or if nothing else, get stranded.

Ok

I think he's full of it. If rivets were lost from a transmission band it would have no grip and the car would not go. What else is there in there that's riveted? You could get a rebuilt transmission but I would not go back to that guy. Think now; has the transmission been acting up at all? Did you get sold a transmission flush?

The car will then slow down and have no more drive at all, no matter how high or low the engine revs.

a transmission damage does typically not make a car stall but the engine rev high, because when the transmission damages, then there's no more strain on the engine.
in that case its to turn the hazard lights of the car on and to look for the most secure possible spot on the side of the road to let the car roll out to, then someone to haul the car away needs to be called.

The rivets are what holds the band together.It won't stop it in its tracks but will eventually do some major damage in time since that piece of the band will be floating around inside doing other damage. As far as time its 50/50 on getting it to go another month.Best bet start looking now. You would like to be able to trade it in while still moving and shifting correctly. Or try to get a good price selling it independently

If the transmission "goes" you end up stranded, need a tow truck, and will get nothing for the vehicle on trade in! I'd trade it in tomorrow! Don't drive it anymore or you'll end up **** out of luck! When you have metal parts in the ATF pan it's a red alert warning and driving yet is stupid!