With any car you can have a bad sensor. In normal operation, I am not sure how this could happen. Obviously something is wrong with yours. I've driven 4 different Crossfires, normally, and to the limit. With and without traction control.
I think the traction control (when operating properly) is very good. It really slaps your hand when you try to do something stupid (wide open throttle with a turned wheel) It will totally knock down your throttle percentage. If you did the same action with partial throttle, it will limit the throttle gradually instead of instantly.
Of course you turn it off and it does whatever you like =) However the tires might not agree.
It is a good thing they did not give you the car back. You really don't need to be driving a car that doesn't operate properly on a public road. Let them fix it and make it right. I'm sure it is something simple =)
Good luck