No 2nd gear...

slimjim said

Even though 3rd is softer, it still feels like a good shift. The RMVB definitely puts a lot of strain on the trans. Normally the 1-2 shift will push me back in the seat and the 2-3 shift will shove me back. I haven’t tried to adjust the band yet. I guess that could give me an indication if the strut and/or band broke.

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It very well could be the band adjustment and the burned fluid because the band was slipping because of being way too loose.
The pin that pushes the band lever only travels so far before it hits max travel.
If the adjustment is looser than that it can cause the band to gradually start slipping.
Then all the sudden that pin can't reach the apply lever travel any longer causing 2nd to go away.
I have had it happen to me before on a car I bought and drove home. (no second)
Adjusted the band and not only did I have second back, but it lasted for years after.
(Just a possibility for you)