It is possible the converter is going away on you, but short of pulling it out and having it cut open, it's hard to say.
How is the oil in the transmission? Are there any indications of contamination in the oil: metal, clutch material, water etc.? The oil should be a nice red color and not smell burnt.
With the transmission slipping, it is also possible you've got internal transmission problems. Usually when a transmission is slipping, it's a good indication that the seals on the drums are going away on you bypassing oil and causing the friction plates to slip.
If it was me, I'd start by dropping the oil pan and see what might or might not be in there. If the pan has junk in it, and the filter is clogged, the unit should probably come out and taken apart to see what is wrong. Burnt oil and crud in the pan/filter are signs of internal problems.
Just my
others may have another opinion.