I'm really glad I have a trans temp gauge in the hot line of my 48RE. It just saved me a bunch. Over the last couple days, I saw my trans temp spike up to 240 or 260. Yesterday it pegged my gauge at 280. Luckily each time I was just on my way up the hill to the house so those temps didn't stay up for long before I could shut down.
I did a little searching around and found that the check valve in the hot line often gets clogged up and causes the trans to overheat. I found a couple recommendations for how to deal with it. One was to try to gut the valve which looked pretty tough to do. I opted to replace the valve section with about a foot of 1/2" rubber oil line. I had to cut off the flared end of the hard cooler line with a pipe cutter and just used hose clamps to hold the rubber line on. No leaks that I can see after driving it around all day. Also haven't been able to get the gauge above 200.
I should say that even when my gauge was showing in excess of 280, the trans temp light in the dash never came on. I'm thinking that light is worthless and your trans is probably dead by the time it lights. If you don't have a gauge, I'd definitely recommend getting rid of that check valve.
I did a little searching around and found that the check valve in the hot line often gets clogged up and causes the trans to overheat. I found a couple recommendations for how to deal with it. One was to try to gut the valve which looked pretty tough to do. I opted to replace the valve section with about a foot of 1/2" rubber oil line. I had to cut off the flared end of the hard cooler line with a pipe cutter and just used hose clamps to hold the rubber line on. No leaks that I can see after driving it around all day. Also haven't been able to get the gauge above 200.
I should say that even when my gauge was showing in excess of 280, the trans temp light in the dash never came on. I'm thinking that light is worthless and your trans is probably dead by the time it lights. If you don't have a gauge, I'd definitely recommend getting rid of that check valve.