I had the same thing happen to me TWICE this past winter in my 2001 ram. In the first week of january i was backing out of my garage and i noticed that there were no brakes and i could not steer. As i was backing out of the driveway my dad was waving his arms and yelling at me to turn off the truck. I got out and right infront of the truck there was a 2' diameter puddle of fluid. I was like "oh ****, what's wrong now. "
I had to gingerly pull it out of the driveway and park it off to the side. The next day i had it towed to the dealer to get it looked at. This was not a warranty repair, since i had about 45,000 miles on the truck at the time. I was hoping it wasnt the hydroboost pump (thousands of $$ to fix). It turned out to be a bad power steering pump. They said it blew up, and let out all the ps fluid.
So $600 and 3 days later i had my truck back. All was well for almost exactly 2 months, when a similar thing happened in the first week of march! I could not brake or steer the truck. I was beyond ****** at this point, after paying $600 to fix this problem and it showed up again. So it was towed to the dealer the next morning and they said that there was excess air in the system from when then did the work in january. So they let it sit for a while inside their heated shop, and then let the truck run for a while to warm up. That must have helped to purge out the air in the system. Then they filled up the fluid and i was on my way.
This is just my own experience with the ps pump going out. I would think that in your case the ps pump has gone south. If you are under 36,000 miles it IS a warranty repair, so you shouldnt have to pay anything. If not it'll run approximately $600 to get it fixed at a dealership.
Tim