95 Voyager, shifting problem...tranny?

I have a 95 Dodge Voyager. I bought from a friend that said that it had a rebuilt tranny. I am now having problems with shifting. I only have reverse and the tranny is smoking. It acts like it wants to go but can't. It just revs up and won't go anywhere. I was told it could possibly be a vacuum modulator or the transmission is gone.....HELP!!!!:banghead:

You may have done this already but is the trans fluid level ok?

That doesnt sound good. If its smoking I would think the tranny fluid is leaking onto the exhaust. Did it happen all at once?
Good luck getting any answers. Everyone has or has had tranny problems but not to many people fix them. Usually they just replace them.