65 Barracuda A 904LA trans. leakage problem

Hi Guys, I am working my way through a restoration on my 65 Cuda. As I am working under the car, I found lots of pink colored fluid clinging to the undercarriage. Upon further inspection, there is a good sized gash in a line leading to the back part of the transmission. my Cuda has a 318 V-8 with what I guess is a A904LA tourqueflite trans.
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Can you guys help me identify the ripped section pictured and if that is the source of my leak?
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The ripped cable leads to this box at the back of the trans.
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How do I go about replacing this offending part?