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Just got done replacing the water pump which did fix the over heating problem, so now as I was driving to a big corvette meet noticed the tranny wasn't acting right and started slipping and would not shift into OD.
Id take off from a stop and it would stay in 1st so I hit the gas and it would slip and finally went into 2nd, and somehow it went into 3rd but would not shift into OD !!!so I limped along 35 MPH @ 3K RPM
so we got it into a nearby city called a flatbed and had it towed 80 miles back home .........tranny fluid looked to be ok and didn't smell burnt, so what were thinking is it could be something computer related or a problem inside the trans, which I don't even wanna think about!!!
95 C4 85K miles
If you are sure it had shifted into 3rd and you were only doing 35 MPH at those revs, then yes, you definitely have something wrong inside the trans.