is it normal when im going at a constant speed, and when i floor it for about a second the rpms go up to about 5,500 and then back down to where i was going at the constant speed, but i dont get any acceleration. my buddy says it could be slipping

 

If you have an automatic, then it can happen. The converter and fluid pressures take time to catch up. If it's a manual, then your clutch is slipping. You might get a burning smell too, if it's a clutch slipping.

 

yeah its automatic