first and second gears are fine but it wont shift into drive or overdrive. is there anything wrong with the tranny or do i need a new one

 

does it bog down like loose power really bad once you hit around 3k rpm, cause mine does this sometimes when it is really hot out and i'm on it full throttle. i have no clue why mine does that, but just trying to compare situatuions

 

It's very common, you lost the 3-4 clutch pack. There are plenty of upgrads and updates on this to make the next transmission last. If you have any questions on this let me know?