1990 740 Acts like it has no gears except OD

[clackamaslee]

1990 Volvo 740 automatic transmission

I filled the gas tank, which was lower than I normally run it (14.8 gallons). A few miles later, after a long hill it started coughing, then it died. It started right back up but died when I shifted into Drive. I assumed that I ran it too low and sucked up some water or crud so I dumped in some fuel cleaner and ran it for a few minutes. It still died in Drive so I tried Reverse. It went into R fine so I ran it there for a few minutes with the brake on, then went into N and D. It drove fine and I assumed I was right about the problem. About five miles later I had to stop and creep forward due to animals in the road. The car died again. I decided that it probably needed a little more time so I ran it for 20 minutes in P. After that it ran smoother than ever, for a moment.

I pulled forward, backed, everything was running fine. About 300 yards later the car acted like it was trying to brake. A moment later it did it again. Then the car wouldn't go above 27 mph and it was at 4000-5000 rpms. It went up hills fine though and was fine for crossing traffic... I tried to limp home. Then when I went up a hill that wasn't as big as some I'd gone up to previously. The car didn't die but just couldn't get up the hill. It was acting like it was trying to climb a hill in overdrive. I rolled back down the hill and realized that R no longer worked either. After waiting a few minutes it worked as before and I got up the hill. But the next hill was much longer and I couldn't get up it.

I was towed home. I tried unhooking the battery for a couple of hours. Afterward the car went into R and D just fine, but I was afraid to try any hills. After a block or so it did that same engine braking thing it did right before it stopped working before.

Any ideas where I should start? The transmission wasn't slipping at all before all of this happened. However, when I went for a drive last week the car didn't want to go into Overdrive on the freeway. It was that way for a little while but has been normal ever since.

Thank you for any advice,

Clackamas

[98T5]

When was the last time it had a tune up?
Valve adjustment?
Do you feel it slightly jerk into position when you shift?

You could be losing power from one of the above issues. I find that mine is losing a little power so I know it's time for that valve adjustment.