An article I may have not written myself :augie
"First, the components in your transmission may be overly worn causing them to literally slip when they are trying to make gear changes. This can cause erratic shifting, or allow your engine to over rev as it changes gears. The components in your transmission may have become worn from normal driving. As these components operate, they will wear down with normal use, but there a few ways you can help them to last a little longer. First, change your transmission fluid regularly. This will make sure there aren’t suspended particles in the high pressure fluid that can be abrasive and wear down components prematurely. Also, when your vehicle is cold, operate your engine at a lower RPM by driving slower. Automatic transmission fluid does a better job lubricating things when it is warm so keeping engine speeds to a minimum while your transmission is still cold can help it last longer. Also, if your vehicle has a performance shift option, it can accelerate wear of the shift components as it causes the transmission to operate at high pressures and make harder shifts, so only use it when necessary.
The other possible cause of your transmission feeling like its slipping would be due to low fluid pressure. If the fluid that operates the shifting mechanisms is low for some reason it can cause your transmission to not fully engage and feel like it is slipping. Low fluid pressure may be due to bad fluid pumps, clogged transmission filters or a low transmission fluid level" :thumb2