When in OD trying to pass someone i get up to 75 or higher and it starts to rev past red line then all of a sudden its like it is in neutal it hits 6500 rpms then i let off then i shifts back in..... all the gears are good when crusing around i feel 1 2 3 4 shifts... do i have a bad clutch somewhere in the tranny... i know i have a bad torque converter cause it chatters going into OD.. can someone explain this??????????

 

Bad torque converters can mess up the 700R4's pump, which can result in various shifting problems due to lack of adequate fluid pressure. Which sounds like your problem. First, check trans fluid level, make sure there's enough. Also, note the color and smell of the fluid. If it's brown and smells burned, clutches could be burned up and/or the band is worn.
I had a B&M torque converter which basically fell apart inside which screwed up my transmission pump and then I had to pull out the trans and rebuild it.
Sorry, I didn't mean to bring you down, just wanted to share with you what can result from a bad converter.
I have a precision industries converter - vigilante now and it has worked flawlessly.