First thing to do is check the fluid level, and condition. Look for any hint of browning; instead of red ; of the fluid or burnt smell.
The trans in your unit is the same as the trucks of the same year, first gear is a clutch pack, second a band, third a clutch pack, and reverse a band. If you break a band, second or reverse, you loose that gear , regardless of how you shift it. Governor problems usually effect upshift not engaugement problems, the valve body, the hydraulic brain of the trans may need repair if fluid levels aren't your problem.