The transmission may also be fried (132k is a lot for an AOD. Even though yours was replaced, your car shows symptoms of a dead AOD.) Do a big rebuild modification with it, you won't be sorry. Here's my setup, you should do something down these lines to get the most out of your AOD.
-2400 RPM stall converter. Hyper important to a good AOD.
-Stage 3 shift kit. With my old Goodyears I chirped the 1-2 shift at 3000 RPM, barely on the throttle. Big burnout at my 6500 stock-tach RPM shift point, too. With my new Nittos, it HOOKS.
-Buy a 4R70W gear set. The extra kick down low is worth it. With 3.73s, it's the equivalent to launching with 4.56s!
-Get the FRPP or Lentech valve body. My transmission shop gave me the equivalent by working the stock one, but they gave me a good deal.
-Gears, gears, gears, gears, gears. No better mod for an AOD than 3.73s in the ass with a posi rebuild.
-Tires are important, too. I have 235/40ZR18 Nitto NT555s, and they have a bit more traction from launch than usual street tires. Get the mechanical junk first, though.
-You NEED to go through your engine. There are definitely problems within, so replacing it with another 5.0 H.O. would be your best bet.
My car with the above junk and 110 000 miles kicks the ass off of 5.0s with manuals. I street race sanely, and I rarely lose to anything in my league (WS6s are definitely not in my league.) After the stoplight grand prix, I've had conversations with people I've beaten:
"Are you sure that thing's an automatic?"
"Yep"
"You're shifting that thing, right?"
"Nope."
"No way!"
Another:
"You got a manual in that thing?"
"Nope."
"So you have a C4 then, right?"
"No, it's an AOD."
"Bull****."
Not only is this setup a blast, it's super quick and it makes an excellent sleeper. With good driving and conditions, it should be good for 13.99. Poeple don't know what the AOD can do, so why not embarass them

Your car has potential, so good luck in the 5.0 world, grasshopper.