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What Causes A Automatic Transmission To Not Switch Gears When Its Suppose To?

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I have a 1994 Pontiac Transport mini van with a 3.8 engine and automatic transmission. When the engine has been sitting long enough to get cold, the transmission won't shift into any forward or reverse gears for a couple of minutes. After that, it will shift into reverse, and then forward, but even when the engine is completely warmed up, and I am in overdrive, the transmission won't go shift through all of the gears properly, and I have to manually shift each gear myself. I have had the transmission flushed twice, and that has not helped the problem. I took the vehicle to a "transmission shop" and was told that with 150,000 miles on the vehicle, the bands in the transmission have "stretched" and start "slipping". And, I would need a $3000.00 transmission overhaul. Last week I had the vehicle in the shop because the transmission pan was leaking a great amount of fluid. Would it be possible that running it on low fluid level has ruined the transmission? Thank you

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