Future ULSI interconnect system demands extremely high data transmission rate, multi-I/O service, reconfigurable and fault-tolerant computing/processing architecture and full compatibility with mainstream silicon CMOS and MCM technologies. In this paper, we present a novel RF/wireless interconnect system that provides a unique solution to those system needs. Unlike the traditional "passive" metal interconnect, the "active" RF/wireless interconnect is based on near-field capacitive coupling, low loss and dispersion-free microwave signal transmission and modern multiple-access algorithms. The proposed RF/wireless interconnect promises ultra-broad bandwidth (up to 100 GHz), simultaneous multi-I/O communications (up to 50/50 I/O sub-channels per shared microwave transmission medium) and reconfigurable network (programmable based on Frequency and/or Code Division Multiple Access). As the first step to prove the feasibility, we have realized a 2x2 CDMA transceivers based on 0.35 μm MOSIS CMOS process, which demonstrates the desired functions of capacitive coupling, guided wave transmission and reconfigurable multiple access.