[SOLITUDE]

You have a 46RH Transmission and a 249 transfer case.... That is unless you've swapped in something else.

Drop the tranny pan and snap a picture for us and we'll tell you what's up. I just finished replacing the Torque Converter in mine and I've got the same transmission.

http://www.nagca.com/forum/viewtopic.php?p=233005#233005

 

[SOLITUDE]

well it sounds like either your Torque converter or the VC in your transfer case.... But the VC would lock-up and wouldn't cause the slippage you're describing, it'd cause wheel hop during tight turns... Either way.... A picture is worth a thousand words. Just make sure you try and get a good photos, Leave enough fluid in the pan so we can get a good shot of what exactly is in there. Good luck.

 

[SOLITUDE]

Picture is worth a thousand words but....

Sounds like your hydraulic pump went out in the tranny and possibly fried the TC.

 

[SOLITUDE]

you'll need to replace your 46RH with another 46RH unless you want to swap out the computer and wiring harnesses and etc.....