If I try to accelerate quickly the actual speed of my car hardly goes quicker and the RPM goes way too high. Sometimes the car shakes when this happens. My transmission fluid is yellow. Any ideas about how why this may be and how to fix it?
I too am really puzzled by yellow trans fluid. It definitely seems like your transmission or TC are slipping badly. As advised above I would drop the trans pan, drain ALL of the tranny oil, new filter and try it with a snootful of fresh clean Mercon V.
Wow, doesn't sound really good though. Good luck and keep us posted!