A tire and suspension monitoring and warning system consisting of a set of multi-function sensors that monitor and warn of a failure mode. The system monitors and warns for tire imbalance, tire tread wear, and shock absorbers for a tire attached to a vehicle. The monitoring and warning system includes one axial, radial, and lateral acceleration measurement of the wheel to provide acceleration signal sample power. For tire imbalance, signal sample power in the second harmonic of the tire rotational frequency is compared to that of the first harmonic. For tire tread wear, average signal sample power within a second frequency range is compared to a previously stored baseline value. For shock absorber performance, a sum of all frequency components in a second predetermined frequency range is compared to a baseline value.