Transmission decision: help!!

[lanestir7]

Help! I have a 1994 740I..love the car but...5 months ago, water pump broke, been sitting at my buddy's lot..finally went to fix, and auxilary pump was bad too, replaced that, now transmission cooler is bad, and there has been coolant in the transmission..The transmission is draining, yes you guessed it, strawberry milkshake...I need opinions on whether i'm screwed or not. My friend's advice is to fix the transmission cooler, flush and fill the transmission and immediately take it to the auction. Right now the votes are about 10 to 2 in favor of his theory. I love the car, but don't want to fix the cooler and then 2 minutes later, have to rebuild or buy a new tranny. I have read about other people, flushing and filling constantly until they get the best color tranny fluid after this same type of problem and they don't have any more problems. However, i'm concerned with the fact that the car sat for 5 months with water,coolant in the transmission. I know everyone will have an opinion and/or solution and I need both. Thanks