Throttle linkage question

I recently had my transmission rebuilt (727, 3550 stall, 3.55 rear) and the shifts are crisp. Problem is that the shift points are too high and it makes the engine pass redline before shifting. I have to lift off the throttle slightly for it to shift to save the engine from grenading. Passing gear also instantly also causes the engine to scream past redline... as if it is downshifting to 1st from 3rd.

I am told that the cause is an improperly adjusted throttle kickdown. I have read that the kick down lever has to be completely forward and at this point the linkage should just touch the back side of the throttle lever. This is easy enough (just rotate the linkage by turning in or out), but when the throttle is fully opened there is way too much slack going the other way. I know that there has to be some play...about 1/8 of an inch but It's more like an inch away from fully engaging.

There is a verticle adjustment rod that I have yet to touch. Is there an adjustment at the transmission that would lesson the travel?

I appreciate any insight you may have. More info...I have the original intake but use a Holley 750 and 1" spacer.

Thank you,
John