I have a 47rh in my 94 and the other day it lost 3rd and overdrive, it will still go into 3rd and over drive but it just free revs when it hits them like its not completly going into the gear. If im easy on the throttle you can feel them engage a little bit but once i get into the throttle it free revs please help i know very little about auto's.

 

I'd pull the dip stick and smell it to see if it smells burnt. Then drop the pan and see whats in the bottom. That's a start without pulling the sucker out just yet

 

I had a similar problem to this with my 47RE. My front clutch had failed (a snap ring broke).

 

fluid smelled fine ill have to drop the pan tomorow. hopfully its nothin major like the front clutch, but it kinda feels like it is.