1994 BMW 318i No Acceleration - Gas Pedal

I was turning the corner today in my car, and I came to the horrible realization that my car would no longer accelerate. I can push down completely on the gas pedal, but it feels as though there is no resistance. The car continued to move very slowly until I could pull it into a parking lot.

I noticed a dashboard light I've never seen before:
Orange Light
Circle (looks like a Gear)
Exclamation point in the middle

I have replaced many things on this car in the past year including Driveshaft, Spark plugs, Cooling System/Water Pump, R/L Control Arms
My A/C is broken unfortunately and I live here in Dallas, Tx. It is a nightmare. I believe I need a condenser according to mechanic and I was quoted in the area of $1700.

I'm a college student working a temp job and I need this car for work and school.

Please let me know if there is anything I can do as far as junkyard parts or things to look for.

Thanks very much,

Zach