So my family member has a 2002 Grand Cherokee 4.0 4x2 and I believe the transmission is gone at 115K miles...

A short time ago, they had a CEL and the code read out for no RPM drop and torque converter lockup. There was nothing out of the ordinary about the shifting. The other night they were driving (a short distance from home) and suddenly a "winding" sound almost like a belt started, followed by a clunk or pop. Then a squeal continued that almost sounded like a drive belt until the vehicle bucked hard and then smoothed back out. The buck happened twice more before they reached the driveway. When they got out there was a smell of "burnt rubber" and the "overdrive off" indicator came on. This light went when the vehicle was restarted, however, reverse no longer works. When shifting to reverse, a "rumbling" sounds comes from the transmission and it never goes into gear.

Is anyone familiar with the internals of the transmission that may have an idea of what happened?

 

**Update**

Torque converter clutch had failed and the vehicle was not shifting to overdrive. Transmission had to be rebuilt for catastrophic failure of overdrive parts (pitted and melted) and damage caused reverse to fail.