It reads like speedometer gauge issue, but..................
On the drivers side of transmission's tail shaft is the speedometer cable hook up, one bolt holds it in place
Remove the bolt and pull out the speedo cable with its Driven Gear
Will look like this:
https://www.therangerstation.com/tech_library/images/speed/speedocable_withgear.JPG
That gear meshes with a worm Drive gear on the output shaft of transmission
You can hook up a reversable variable speed cordless drill to the speedometer gear/cable and spin it, speedo needle will only go up if spun in correct direction, same as no speed shown in Reverse when driving, doesn't hurt anything so if needle doesn't go up reverse drills direction
Should get a nice slow response as you vary drill speed, no wild swings, or jumps in speed
Obviously if the gear looks damaged that would be an issue, but usually cause no speed shown or jumping speed needle
Bad speedometer cable is the same, jumping needle or no speed shown
These Mechanical Speedometer gauges work by the speedometer cable spinning a magnet inside a metal "cup" the spinning magnet causes the cup to turn a bit in the direction of the spinning magnet, the needle is attached to the cup
There needs to be a "hair spring" holding the cup from spinning too far this is basically the "calibration" for magnet spinning RPMs and cup/needle movement
Seen here:
https://cdn4.explainthatstuff.com/how-speedometer-works.gif
If the hair spring breaks then nothing is holding the needle back, calibration is lost, and shows a higher speed than actual