According to FCC records, Bridgestone is close to releasing their wireless tire pressure monitoring system. The system uses sensors embedded just under the tire rim to send tire pressure and temperature to a handheld device. A 1.5 second alarm is sounded if the pressure is too high or too low.
The handheld sensor has a very short range and you basically have to walk up to each wheel. In addition, readings can only be taken while the vehicle is stopped. The device can store up to 1080 tire readings from up to 90 vehicles. Results can be exported in an Excel-compatible CSV file.
Development of the system was originally announced back in September 2004 and is meant to be used on trucks and busses. Tire blowouts on larger vehicles can have catastrophic consequences for both the vehicle occupants and people in other cars. Inflation records (or lack of) are one of the main things accident attorneys check for after a serious accident.
According to the National Highway Traffic Safety Administration, tire blowouts caused by under/over-inflated tires contribute to approximately 414 deaths and 10,275 non-fatal injuries each year.