Yes, you have to disconnect the battery for 15 minutes or so to erase the computer memory. Then it will learn the new settings with the new functioning sensors.
Several years ago we had about the same thing going on. It would start out running well then the check lite would come on and the engine would go into limp home mode, which is what you are experiencing. After the dealer working on it all summer, scanning, changing sensors, ECMs ect. with little success, they sent it down to Delco electronics in Kokomo IN. After all, if they made the stuff they could surely fix it, right. Wrong!
After 2 weeks they sent the car back declaring it cured. It ran home to the dealer where my wife works just fine. On her way home from work it lit the check engine light and went into limp home mode again.
Totally frustrated, the service manager ordered a NEW, now remanufactured, ECM and a new prom chip. When installed together the car ran great and has since for the last 15 years or so.
I'm not saying this is what you need to do but after numerous scans and sensor and ECM replacements this was about all that was left to do. There was no logical reason to do this based on diagnostic proceedures following the service manual to the letter, there just wasn't anything left that had not been tried at least once.
One more thing to look at. All of your connectors for the ECM and sensors are gold plated because they have to have a perfect connection for the very low voltage signals that pass through them. If any of the sensor plug boots are allowing any moisture in you are in trouble. The ECM and prom plus also need to be perfectly clean. Check them all carefully for any signs of corrosion or moisture.
Tom