727 problems

Have 400 mopar with 727. car was doing 70mph, reved up quite a bit, then back to 70 on its own, then spit tranny fluid out back on exhausts. Was as able to drive off freeway, fluid is clear, no parts in fluid. Cannot find anything outward wrong. can someone help. Tranny only has about a 1000 miles on it . Was able to drive on lift. Thanks!
Author: 400moparuser