Automatic???? if so drop the pan and inspect the bottom of pan for shavings or deposits. You may get my with changing filet and fluid. If you do this, Add I Quart of LUCAS transmission fluid in place of you regular trans. fluid. Clean the bottom of valve body/transmission with carb clean or Brake cleaner. This will get varnish and gum out.
Most likely that the tranny belts need to be adjusted or replaced.
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