Back in the '80s, a friend related how one of his friends had decided to rebuild the automatic in his Chevy pickup. So he pulled the trans out (without any trans jack) and then spread out an old blanket on the garage floor. As he took things apart, they were laid out in order. He got some rebuild kit items, then reassembled it in reverse order, using the new parts in place of the existing "wear parts". Got it all back together. It worked, but had a delayed engagement into D. Something his friends kidded him about.
This is not a "screwdriver and pair of pliers" type of rebuild. You'll need some tools to do it, other than a basic set. The cost of which could be an investment if you decided to do it again, but that's your judgment call. Point is, once you buy the tools and holding fixtures for the case, it will be more than just $100.00 or so. BUT if you plan to later rebuild another TF, then that is an investment rather than a way to save money (a related dynamic).
Rebuild kits are available. KEY thing is to find the one with items which are "OEM Level" or better. Many trans shops have their own specific orientatiaons on which brands might be better than others. Usually, the more expensive kits are the better ones, with better items in them. Possibly Mopar Perf has such a kit? There CAN be some big differences in the quality of the friction materials in these kits, by observation. SO, shop wisely!!! They are not all the same.
Seems like there are some small torque wrenches to do the basic set-up on band adjustments and such? Internal/external snap ring pliers of specific sizes? PLUS a suitable holding fixture for the case as you work on it.
Seems like the Clymer repair manuals have some work-arounds for some of the factory (Miller-Falls Tools, back then) special tools? BUT the FSM should be the basic resource, no matter what. The other repair manuals can have some additional information for some specialized situations/applications. Even some related product suggestions?
In some cases, just doing the initial familiarization/training can take many more hours to do that to just to the rebuild. Watching somebody well-versed in TFs can make it all look easy, due to their experience. Finding a good MENTOR can be important!
In one respect, as with my friend's friends, just taking it apart to replace gaskets, seals, and frictions, reassembling in reverse order, should work. FWIW. When it does not, knowing where to look to fix things is where the mentor comes in.
Remember the (national trans chain) tv commercial, with the guy standing there with a running water hose . . . "I always wanted to work on automatic transmissions"? DON'T be that guy.
There might even be an auto shop course at a local community college on automatic transmissions that you might take/audit BEFORE you jump off into this deal. THAT could be a good deal to investigate! Probably won't be rebuilding TFs, but other automatics, but it'll give you a general idea of what's involved and how fine the tolerances are in these mechanisms for them to work correctly and "as designed".
Enjoy!
CBODY67