It sounds fishy,that you'd have good shifting and no slippage,then "lose" all the gears..to me that indicates a valve body problem,something isn't letting the fluid get to the clutch packs and engauge them..sometimes the pressure regulator valve thats under the valve body sticks and wont allow sufficient pressure to the clutches...extremely low fliud levels can do it also...the noises might be the pump whining due to it being run low on fluid or the pressure regulator valve ,or even fluid trying to be pulled thru a clogged filter...
I had a TH350 that refused to go i any forward gears after a cold start,especially if the truck sat overnight--I'd have to wait for several minutes until the engine warmed up for it to engauge any forward gears,once it finally went into gear,I could drive it anywhere and it would shift perfect,no slippage,etc..I tried every tranny additive sold at the time,to no avail--even followed one old tranny rebuilders advice and added a small bottle of Lestoil to the fluid (yes,Lestoil!--he claims it works better to free up sticky valves and varnish than many store bought additives,and assured me it wouldn't hurt it any)--didn't have much to lose anyway,so I tried it--it did cut down the length of time I had to wait for drive to appear every morning,but I eventually swapped a SM465 into the truck,before I lost my job from being late so often every morning...I suspect the TH350 had some hardened rubber seals that let fluid leak by until the warmed up some ,then let the forward clutch apply..
I would try testing your line pressures before doing much else--there are little pipe plugs on the side of the tranny case you can hook up a test gauge too,and yourun the engine and jack up the wheels and put it in the appropriate gear and read the pressures at a specified RPM,that tells you if the pump is putting enough pressure out,and the pressure regulator valve is working,and if any servos or clutches are not receiving sufficient pressure..you'll need a tranny service manual to find the plug locations and the proper procedure to check it out,the specs for the pressures at certain rpm's,etc..
If the truck sat a long time there might be some water in the tranny from condensation,and it wont take much rust on a valve or other internal part to cause this kind of intermittent problem..adding some Lucas tranny treatment to the fluid after changing it might help,I've seen it revive some "dead" trannies before ..