ok so i seen some of you respond to threads with good ideas so i decided to give this a try...i just bought a 95 4runner with a lift kit and all that..it drove fine for the 2st two days i had it and after that i took a trip about 40 miles from home..on the way back the trans just randomly started slipping on the highway and would not pick up speed at all, just kinda coasted my way to the side of the highway..i checked the fluid and it was fine..i started driving it again and it was fine just for it to start doing the same thing again 3 miles down the road..i noticed that if i let it cool down for a minute it works fine untill it gets hot again..also there is a smell coming out that smells just like trans fluid especially if i give it gas and get it in higher rps..any ideas what this could be or if anybody had the same problem? im thinking its the torque converter...

 

Sounds like it might be time for a rebuild.