Depends on the place. Might cost you an hour at shop rate, but you can ask before you have them look at it. Some places will give free repair estimates.

 

Sounds to me like you lost your 3/4 clutch pack. Rebuild time.
Color and odor of tranny fluid?

You don't need a tranny jack, a regular old floor jack works, if your careful and follow my tips in the thread posted above. As for getting the truck off the ground. I backed my truck up my car ramps and put the front on jack stands to level it out. Or you could leave it on all fours if you can fit under the frame rails, this takes more work and makes getting the exhaust system out harder, plus you will have to tip the tranny practically on end to clear the bell housing, however it is doable. I ahve done it both ways, ramps was easier by far.

 

Although I'm new here, I've wrenched on cars and motorcycles since I was 14. As stated above, it sounds like the trans has seen better days. I use to own a '95 Formula with an auto trans. When I bought it had low fluid. I topped it off, but months later it started to slip in 1st-2nd. I changed the fluid and filter and found a lot of clutch material in the pan and a semi clogged filter. I knew then the trans was toast. Big bucks for the rebuild, but that's because in part of it being in an F body.