Ford Repair: 1987 Ford Bronco ll, automatic transmission fluid, vacuum modulator

Question
I've lost power, losing automatic transmission fluid, and the oil smells like it may have gas in it, please help.     thank you very much! Deborah Johnston

Answer
Here is my long-shot guess from the information that I have.  The transmission's vacuum modulator is bad and allowing transmission fluid to be drawn into the engine (not leak onto the ground).  The transmission fluid being ingested into the engine is causing it to run poorly and resulting in unburned fuel contaminating your engine oil.

I hope this help,
Dave