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Bummer Christmas present, Jake,
Yes it is the high clutch that is slipping, it is used in 3rd, and with the band in 4th, so it has to be it. There is a possibilty that the screen in pan is blocked, but it usually affects the inital take off. Does the ATF smell like money?
A rebuild is needed, may not be costly. Check out the auto shops around town.
Harvey. 
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One Arm Bloke.
Tell it like it is!
95 Lsi. Bordeaux Pearl, Aust. RHD.149,000Kls Subaru BBS wheels.
97 Liberty GX Auto sedan. 320,000Kls.
04 Liberty 30R Auto Premium. 92.000kls.
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