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Install a seperate cooler, that will bring the temps down somewhat.
Also, most of the tranny heat is down by the pan, not on the upper side. The heat that gets into the cockpit is coming from the engine and mainly the exhaust.
I don't think that would be a good idea. The transmission needs to run as cool as possible and the coating would keep the heat in. Besides, I agree that most of the heat is comming from the exhaust and the engine. Coating all the exhaust and using a different insulation under the carpet like the aluminum backed stuff should help a lot.