Tightening the 2>3 overlap in a 727

Guzzi mike, get a long boxed in offset-type 3/4" wrench, and above the linkage on the driver's side, you'll see the 3/4" nut. Loosen it and then using a 5/16" open end wrench, tighten the inner screw as tight as you can get it with the short wrench, say a 3" to 4" long one. Then, back the 5/16" screw out 2 turns and while holding it, snug the 3/4" nut. Go drive it and if it flares again, loosen the big nut while holding the small screw and tighten the 5/16" screw 1/2 more turn in.
If this does not fix it, you may have to remove the trans so you can repair/replace the worn clutches or band or both.
Tom