Hello. After driving about 15x miles at about 50mph all of a sudden my 1988 240DL with auto transmission started slipping. I pulled over. There was smoke from underneath. I had car towed home. After sitting about 2X hours I tried it out. Got about a block and it started slipping. Pulled over. Car would not go forward or backward. Just sat there going nowhere. I checked the dipstick and it was overfilled(over top of black plastic on dipstick)so as somehow it was overfilled I let out about 2x quarts from Tranny pan drain. Checked again and still as overfilled. Whats up ?? Is tranny shot ?? Time to replace it ?? Should I re-build this one ? Put In a Re-built one ? Or put in a used one ? Help and advice with this would be greatly appreciated. Although I have owned a number of Volvo's over the years this is my first(and maybe last) automatic transmission one. Thanks All.