I have that Chrysler transmission you are refering to, in a 1950 Dodge car. In my Dodge, it is called "Gyro-Matic", but in other cars it is a Tip-toe-matic, and several other similar names.
It has a torque converter, and a traditional disc type clutch. It has a hydraulicly shifted 4 speed transmission. The construction of the the trans is very similar to a traditional manual transmission, only instead of hand shifting, there is a hydraulic piston which shifts between 1-2 and 3-4. You have to clutch and shift to put it in gear initially, then once its in gear, you can release the clutch, then you can drive off by releasing the brake. To shift from 1-2, all you have to do is release the gas pedal for a sec, and it shifts itself, no clutch required. When you need to shift into third, you have to push in the clutch and shift the column lever from the high side to the low side, like you'd shift from second to third on a traditional 3 on the tree.
Now, your in third, and to shift into fourth, once you have attained speed, you just lift off the gas and it automatically shifts in fourth gear.
According to the book, you normally only are supposed to use the third and fourth gears, Ive tried it on my old Dodge, and it does work from the level, although it takes forever to get up to speed, and I see why it would be called slushomatic or whatever. If I'm going up hill, my engine is too old and the carb is too dirty, and I end up just sitting there, while the engine is lugged down and the torque converter slips endlessly.
The trans other functions, such as kickdown and whatnot are electrically controlled from switches on the carb, they release a solonoid on the trans that dumps oil pressure, causing the trans to drop to the lower gear in whatever range you are in. On mine, the wires are old and frayed, and the car kept downshifting at inopertune moments, so I just disconnected all the wires and downshift manually.
The trans is wierd, and a PITA, but it is a unique part of auto history.
