cantbestopped-Z

Alright I have a 95 z28 and it's an automatic. Since I've had the car when ever I gun-it it would chirp second gear. And as of about two weeks ago when I was floored it just hesitated to shift into second and when it did no chirp just rpms dropped and kept on going. Usually it shifts into second it puts you into the seat. Any advice or ideas about what it might be would be greatly appreciated. Thanks guys