Alright, so this only happens sometimes when I an in reverse.

You know how when you're low on power steering flood and your steering will make a loud whinning noise? This is kind of like that. It only happens when I am reverse and doesn't matter where my steering wheel is, and I can just idle and it'll do that.

Fluids are all good, I'm confusing why it's doing this or even where it's coming from.

 

I believe there is a valve/plunger in the valve body that is known to cause one heck of a buzzing type noise. I know they make upgraded everything for your valve body so if this is the problem there is a solution. that being said I haven't really heard if there are any long term effects other than the annoying noise.

 

Sometimes the fluid gets moisture or just gets dirty, best thing you can do is a flush. Even if it is sealed shut it gets dirty. Think of brake fluid new is clear, NO Vehicle ever keeps it clear, due to moisture and contaminates. One quick way to do it is to drain your fluid and refill it.

All fluids ALL need to be replaced every now and then. I bet you never had it flushed out before.

 

Ditto that^^^^ Being a former Chrysler dealer tech, I can account to that. There isn't a long term effect from the noise, just the annoyance of it. If it bothers you that much you can have the valve body replaced to the upgraded one. I highly doubt it has anything to do with fluid condition or level.

 

Yup, this is a know issue. There is a TSB on it for various years. Here's one:
http://dodgeram.info/tsb/1999/21-08-99.htm

 

I did a full tranny flush about 2,000 miles ago. Ran good since then. But now it's making a whining noise. Not all the time, but usually when I start it up in the morning. It's good during the day.