trans problems, no 3rd and noisy

hello, my transmission was having lots of problems today, and am hope to get some ideas. i have a 95 regal custom 3.8 with a 4t60-e, 148,500 miles. changed the engine oil and checked fluids yesterday. while driving to work today(about 8 miles, 5 on the highway) it was acting normal, except when i slowed down to turn into the parking lot, the 3-2 downshift was harder and occured about 5 or 10MPH higher then normal. later when i went to lunch(1/2 mile drive) same thing happened on decel. on the way back it would shift 1-2 but not into 3rd. on the drive home i skipped the highway and went mostly on 35-40MPH roads. still 1st and 2nd only no 3rd, i only once whent close to where 4th would have engaged(about 2 miles into my drive) and about that time i felt a real hard slam and the rpms dropped, but i let off the gas in fear before anything else happened. a little past haft way home was when it got really interesting. after making a right turn at a light i start to hear a noise. about 400 feet later i'm slowing down for a stop sign and i can feel the engine is no longer powering the trans, just like its in neutral, i coast thru the intersection so i can pull over and check it out. shifted into all gears and reverse with no movement. left the engine running and checked under the hood, i can clearly hear the sound now, its a rattle kinda as if one or a few sets of gears aren't getting lubed(i'm more familour with the rattles in manual trans and timing chains, i not sure if this sound is coming from a planetry set or somewhere else, but it is inside the trans) the AFT level is the same as yesterday, about 3/4 of the way up between the holes, and clean, didn't smell burnt(last dropped the pan and changed the filter about 6-9 months ago, then 2 years before that). then for the hell of it i restarted the engine, by some miracle it shifted into gear, it whent about 50 feet, and it stoped again. turned the engine off, waited a minute, and it would move again, all the way home each time it whent a little farther, it actually made the last mile without going out once. and every time i would hear the noise just about the same time it would go out and the noise would stay until i shut the engine off again. but never did it shift into 3rd. and it was running a little warmer then normal, but thats most likey from being abour 1000RPM higher then normal, or maybe its the nice warm spring weather we are having :)

any way up until the noise and the loss of drive i was thinking a bad solenoid, but now i'm think its more of a hydrualic problem. also while i was under the car yesterday changing the oil i noticed some seepage from one of the trans cooler lines where the hose meets the pipe to the radiator. the hose clamp was a little loose, so i tightened it. i did have to turn it a little, i wonder if some how some rust broke of into the fluid and clogged the cooler or the valve body? but i didn't move the line, so i don't think thats possible. tomarrow i hope to test the solenoids and the line pressuse if i can(where is the test port?) if anyone can help with ideas or diag info i would GREATLY aprisciate it.

thanks - John S.

2 things here, it should be scanned on a trans function scanner this will confirm solenoid operation, gear ratios and slippage errors, but is sounds like an internal failure to me. Is the fluid burnt now? I reread your post, no reverse, it's done, that is not a solenoid issue.

yeah the more i think about it the more i sure there will be no easy fixing this one. so what ar the chances i can get by with just replaceing the valve body? as time and money are issues here. or other parts that can be serviced without pulling the trans? and other ideas/tips? i know its getting old but i need this car to be reliable for awhile longer. thanks

I agree with Shep. It looks rebuild time. The problem is replacing the valve body or any possible solenoid issue is major work and darn near requires removal of the tranny. The VB is located under the side cover assembly and the engine/tranny will need to be supported with a hoist and then dropped/tiltled.

I would run a trans capable scanner and confirm it is not a electrical/solenoid issue. The DTC(s) if stored for retrieval can be enlightening and help you assess the matter.