rpm goes up - car does not speed up.

good day all,

I am facing a problem with my Mustang gt 1988 auto transmission. the car runs well in all conditions except when Y turn the wheel right and press on the gas pedal heavily where rpm goes above 2, in this case, the car does not speed up while RPM keeps going up. it feels like transmission is going on neutral. I have to take my foot off gas pedal for a few seconds, and then press on the gas pedal slowly, then it will engage again and start running well. I changed transmission fluid and filter and checked fluid level already.

anyone familiar with this problem?

regards,
 
If it's not a fluid level issue, it sounds like you're due for a transmission rebuild or there's some kind of seal that's been blown and the pump won't build pressure. AOD transmissions are also known for the cluster behind the pump losing a snap ring and grinding into the back of the pump. The fix is to replace the snap ring with a spiral snap ring. The theory is that the standard snap ring gives up at high RPMs. So if you end up having to open the transmission that would be something to keep in mind.