Reverese and drive work but the car will not shift into 2nd or 3rd.From what I have read it seems like the whole not shifting thing is due to vaccum. Either a hose is cracked or the vaccum modulator is bad or possibly the govenor. Correct?

What worries me is that when this occured it started slipping too. I was out an had to limp he car home and twice when the car was in mid range rpms (3000 ish) I would try to keep it driving and it would all of a sudden rev as if it were in neutral and experience no acceleration. Like the trans wasn't catching. I would have to let the revs come down before the trans would catch again.

I managed to get it home but does this slipping sound like a problem beyond the realm of vaccum?

Thanks for the help
Jason