High RPMs, low speed

[Mr.Rebel]

What is going on? I have a 95 S. Its modifications are, custom CAI, Eibach springs, OBX muffler, Magnacore Race Wires, Denso Spark plugs.
Well,this is what happens, lets say im at a red light. When it turns green, I step on the gas, the RPMs reach up to at leaset 5000 before i can even go anywhere! I tried turning the idle, changing out the spark plugs,changing the fuel filter. I literally have to put the pedal to the metal in order for me to start moving. Is it timing? thats one of the things I dont know about on cars. Or maybe its the fuel/air mixture? I need this help.....Has anybody had this problem or know the answer to this dilemma? Thanks. aka theUnnamedSon (texas)

[BEAST]

I take it you have an automatic?

[Strahan]

Yea, definently sounds like your tranny is slipping bad.