1995 E320 Wagon - Check Engine Light

[cleavster]

My wife was driving the wagon home from work and suddenly, the car started to feel a tad sluggish and jerky. So, she decided to exit the freeway and the car died at the stop light. Luckily, the car started again and drove the car home using the side streets. She noticed that the car felt more sluggish (loss of power), not as jerky, and the check engine light came on. According to a post in the forum, the fault codes indicated the following:

22 Crankshaft position sensor signal faulty
25 Knock sensors or engine control module faulty

Also, I noticed that the hose between the radiator and the thermostat housing (the one near the water pump) was collapsed. I never seen this before and I do not think this normal. Any thoughts?

My question is should I go ahead and purchase all the components or change them one by one. For instance, fix code 22 first since it may fix code 25 as other posts suggest.

Also, are these fixes a simple DIY jobs? What would have cause these components to be faulty? Any assistance is greatly appreciated.

Cheers.