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You could be experiancing the enfamous 1-2 shuttle shift common on our 48re transmissions. Common fix is an updated Borg Warner BW51850 pressure sensor and transducer, around $100 on ebay. Check fluid level and condition. Change filter and asjust the bands.
48re is a 3 speed transmission with a 4th overdrive. The TC only lockups in 3rd and 4th dropping ~400rpm's depending on how hard your pushing it. Being only 4 speeds, your going to notice everyshift and lockup due to the gearing. 4th locks between 47 and 51mph, and will unlock around ~44-45. A new pressure transducer may help some.