1991 camaro 350 swapped to carb..recently car was going up hill and i had no power out of 3rd and overdrive. i pulled over to the side of the road and put it in park. p works r works n works and low 1 and low 2 drive okay. but when it gets to third it just high revs and i have little to no acceleration. Also white smoke was coming from under the car as well. any ideas? im thinking transmission is shot. any help would be great

 

A trans that doesn't want to go beyond second gear, coupled with smoke coming from under the car, sure doesn't sound too good. If the trans is slipping that badly, the fluid on the dipstick should smell burned. If so, she's toast.

 

yup

3/4 clutch is gone and at this point, you have shavings in there so it must be torn down/rebuilt

the saying "borrowed time" comes to mind when I read posts here and people are still on the original tranny