Sounds like you bought the jimmy-rig special.
Yes, bite the bullet and do all the brakes when you get home. It's only your life (and other lives) at stake.
Sounds like the alternator regulator was jimmy-rigged. If your on-the-road mechanic is willing, then have him test the alternator after replacing the regulator. If he/you can't find a regulator then you can get home without the alternator. The car needs electricity for the brake and turn signal lights. If they work then pull the belt off the alternator, jump the car for an hour (STOP if the battery gets hot - it's shot and may explode) and get home so you can relax and fix the stuff right. Worst case is new regulator, new alternator brushes and/or alternator, and new battery.
I'm signing off as I just realized I'm not in Diesel Discussion. This part of the web site is for the 'real' mechanics, not us backyard yahoos.
daBenz - 1970 220D