Well if the fluid smelled burnt it will probably not be going much longer. Is it slipping in 2nd gear? Like the vehicle not moving faster when the throttle pedal is pushed down, only higher engine rpm? Yeah if that is the case. It is time to rebuild for sure.
I'm going to change the filter out, and add fresh fluid. I don't believe it will change anything, but if the trans is a goner, I'm close to home and can load it on the trailer and bring it back.
Now that I'm thinking about it, your comment got me thinking, shifting from 1-2 occurred right around 2100rpm before this issue. When I was texting
@Jay92Ty I think I may have stated something incorrectly. There isn't complete power loss if I manually set the truck in second gear, its like the trans wont even shift into second. Rather it continually raises in rpm in first. As of now with the truck in D or OD, it feels like it skips second, and shifts into 3rd instead, at right around 2800-3100rpm.
If the Trans is trashed, it is what it is. Despite loosing second gear, it got me to Laguna Seca raceway and home. Almost 400 miles, I put a beating on her for sure, and its time to pay back my dues.