Is my tranny on its way out?

The adjustment procedure is in any old mopar service manual, strongly recommend you read the procedure before doing anything.. Its really easy. There are two band adjusters one inside in the oil pan the other outside. Basically you undo the lock nut and then turn the adjustment stud in until it bottoms, then you apply a small amount of torque measured in inch lbs of torque (80 or something like that) to the adjuster and cinch down the lock nut. Please be sure to check this .. I am not 100% on the torque readings on what I just described - been too long since I did one !