Chrysler Repair: 88 LeBaron (K-car) Tranny goes into neutral, cable sheath, cable clamp

Question
When driving my 1988 LeBaron (110,000 mi) about five minutes I can be going 55-60 and then the transmission seems to shift into neutral with the engine revving, doing nothing. If I coast to the side of the road, put in Park then back to Drive, everything is fine and it won't do it again for the rest of the drive. Fluid level is good and it doesn't seem burnt. What gives? Thanks for your help!

Answer
Hi Darryl,
Have you checked the adjustment of the shift cable at the shifter lever on the transmission? Loosen the cable clamp, put the shifter in Park, then move the lever to end of its travel in the Park direction. Then tighten the cable sheath clamp. See if the shifter positions line up, and also check that you can only start it in park or neutral.
Roland