Hey 95zj,
it sounds to me like a stuck valve, Possibly Worth Fixing but if there going to change the stuck valves you might as well upgrade your transmission depending on how much cash you have...
If not bring it to your local shop or change them out your self.
I would also Check your oil for metal Shavings and see if there are any. In some cases inside Jeep transmissions the torque converters will Kill them selves if the valve get stuck
I know this because it has happend to me
How does your oil Smell?