I have an 88 Crown Victoria. The Overdrive quit a few weeks ago as I was going down the road and just acted like it wasn't there anymore, the engine started racing like it went to neutral. Now the transmission shifts rough and am getting less gas mileage as I am using it in Drive. Cut gas mileage from 23 to about 15. Any ideas as to what I might do other than have a tranny overhaul?

I believe you just lost a gear in the tranny. The overdrive gear is like 5th gear and when it's working it saves you gas mileage.

That Ford Is A 3spd With A 4th Gear Which Is Overdrive. It Also Has A Lock Up Torque Converter. Sounds Like The Lock Up Converter Isn't Locking Up.I Would Have To Check And See If It Is Locked Electronically Or By Hydraulic Pressure. [were Getting Kind Of Old Being An '88]