4.6 v8 Automatic Transmission Issue

[sloth628]

My 1998 mustang gt drives pretty decent, it occasionally will slip gears, and if i drive it for more than 30 minutes or so the speedometer drops to 0 and my O/D light starts to flash.

What could be wrong, what are my options?

 

[Mike97gt]

My 1998 mustang gt drives pretty decent, it occasionally will slip gears, and if i drive it for more than 30 minutes or so the speedometer drops to 0 and my O/D light starts to flash.

What could be wrong, what are my options?

Sounds like you need a VSS