The fluid level on all Mopar transmissions of the 727/904 family is checked in Neutral, stamped right on the dipstick. CHECK IDLING IN NEUTRAL
I would add, "Check WARM idling in neutral". Or maybe "hot", I can't remember which.
I agree with much of what's been advised. First, check fluid Low fluid will definitely cause slipping! Needing a fluid and filter change probably won't.
Second, I wouldn't dive into this one yourself YET. Kudos for wanting to, but a bit advanced right now. Just learn how to check the fluid and keep it in operating range, I'd say with Dex/Merc.
Third, FSM's are definitely AWESOME. Find a greasy cheap used one on Ebay
So check fluid with trans warm, idling in neutral on level surface, and yeah, parking brake on, and get back to us