hey, ive been looking at auto tranny stuff all day. it sounds like either your fluid is low, filter clogged, valves need cleaning, or you have clutch issues.
There is lots of info here:
http://www.bimmerboard.com/forums/posts/422325
I found a manual from 88 that explains rebuilding it too, but I can't remember the link. It would only help you if you plan on replacing clutches yourself, otherwise, look for a used tranny somewhere. Like I am.