Lonestar,
The auto trans is nuts and bolts, just like the engine. Everything MUST go back in where it came from, EVERYTHING. Every "O" ring, every spacer, etc.
The advice above about getting the Helm (official Ford service manual) is a must.
Before removing any torque converter bolts to the flywheel, also referred to as a "waffle plate", paint a mark on one of the bolts and the torque converter. This is so you put the torque converter in the same relative position when you put it back together.
Once you remove the bolts holding the torque converter to the flywheel, and have everthing disconnected from the trans, then remove the trans to engine bolts. Again follow the Helms manual.
While removing the trans be careful not to let the torque converter drop.
Before removing the torque converter, look in the bell housing for any signs of a torque converter leak. If there is a circle of trans fluid around the inside of the bell housing that lines up with the torque converter, your converter will need to be serviced or replaced.
If the fluid is just on the bottom of the trans, it is a shaft seal leak. The shaft seal will be a part of the rebuild kit and get replaced anyway.
Now you can pull the converter out CAREFULLY, and set it aside in a plastic bag. From this point on you MUST work clean. You do not want to get dirt or crap inside the trans. Clean the bellhousing before you go any further.
When you get this far, get back to us and we will walk through the tear down and rebuild.
Start looking for the best rebuid kit you can find. Get one that has the upgrades. Stop and talk to a Ford dealer service tech who does the trans work, and see what he/she recommends.
Then check SHO times, this forum, other trans shops, etc. Then you can decide on the rebuild kit that suits your needs.
While your looking into rebuild kits you can also find out what special tools you will need.
If you take your time, take it one step at a time, follow the book, work clean, and carefully lable evrything, you can do this.
If you decide to do this I'll send some additional tips to you. You get to learn from my mistakes! I put the same trans in, and pulled it out, four freaking times. I'm talking completely in, axels and all. What a bear. rangerj