318 won't rev past 3000 rpm

If it revs to the same rpm in neutral as it done going down the road. I would be thinking valve spring are weak.

plunged exh could cause a simile reaction.Does the exh really hiss (no exh tone just fast sounding air rushing though?

I knew a guy who had a chevy with the same problem. Turned out the cam went flat. We put a new cam in. Problem fixed.