Runs but wont go into overdrive 4500rpms @ 50mph
Sounds like it is stuck in second gear. Overdrive only drops rpm by a couple hundred. In third gears you should still be less than 3,000 rpm.
Second gear is a default gear when the transmission is in limp mode. Is the check engine light on? Does it shift if you manual shift through the gears with the gear selector?
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SOURCE: I have a 1995 chevy 2wd ex cab and my reverse wont work
If you have lost reverse then I would say you could have either bad clutch plates or a broken drive drum. The transmission will most likely have to come out and be repaired to fix the problem. There may be a transmission related service code stored in the computer so it wouldn't hurt to have it checked for service codes first but I think the problem is most likely internal and mechanical in nature.
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