Thanks, Matthew. I've heard good things about them. I'll stop by and talk to them tomorrow.
Here's the reader's digest version:
I drove down to Georgia and was close to my parent's house (a little more than 300 miles) when the CEL came on and the Trans Oil Temp light started coming on. I could smell the trans oil inside and outside the truck. I checked for coolant/trans fluid mixture, but the radiator was fine. No mixing. I didn't notice any shifting problems. I added some Seafoam Transmission additive to see if it would loosen up a sticky solenoid (thinking that might be the problem). CEL light went off for a little while. I drove it home the next day and CEL light came back on and started getting the Trans Oil Temp light any time I would slow to a stop or a near stop. Still no slipping. I drove it the next day to take one of the kids to school. The oil smell was much stronger especially inside the cab. When I came out of his school, I looked under and noticed oil dripping off of the skid plate and puddling underneath. I haven't driven it since that day.
The CEL is giving a P0770 code which indicates a problem with the lockup solenoid.
A friend and mechanic sent me this...
"The p0770 code activates when the truck is brought up to 50 mph and the trans goes into full lock up and then you slow down and it doesn't come out of full lock up like it should. The could be because of the solenoid being stuck, not allowing it to release, or it could be an issue in the valve body. Regardless, it is creating an enormous amount of pressure and blowing the fluid out. If it is blowing it out, that means those seals are now compromised."
Just praying it's nothing major and that the oil is only coming out of the breather and not any seals. If it is a major repair, I'll save up for a 5-speed swap... or just find another 4Runner to build.
@jynx
Murph