I have a 4L60E with about 175k miles on it;

My transmission was slipping pretty badly few days back. Driving about 80 mph and when I accelerated, RPM shoots up but no power, and eventually couldn't go faster than 10 mph. Transmission temperature did not go above 170 Degrees. I panicked and towed the car back to the house.

I have the aftermarket transmission pan with the drain plug, and when I drained the transmission fluid, it was not burnt but only 2 quarts came out - thought more should've come out.

I put 3 quarts back into the transmission and it seems to shift fine in the parking lot, going to test drive again at night when not much cars are around just in case.

Could low transmission fluid cause it to 'slip' alot? I do not know much about transmission and I am praying that I don't need a rebuild. Used only RedLine D6 with filter change every 30k.

 

Yes a low fluid level will make it slip a lot. If you only added 3 quarts back after draining the pan, most likely your fluid level is still low. Check your fluid with the engine running and trans in park.

 

Yup, I think you are still a quart or two low.
Are you checking the level with the engine running?

 

Yes, I am checking with engine running and due to the weather, cant get it higher than 90 Degrees unless I drive it

 

Temp doesn't effect the fluid level all that much, unless it is overheated.