It won't mess up your tranny if you do it occasionally (only when you race) just don't get carried away, and make sure you keep an eye on the color and level of your transmission fluid. And you don't necessarily wait for the gear to "kick in" its just like a manual without a clutch - shift at the apropriate RPM - maybe 200 RPM early because it takes the autos a little longer to shift. It will probably be easier for you just to listen to the engine. And it will help to disengage the OD, because OD is a wide ratio gear meant to improve fuel economy. It will take you a long time to reach the powerband again. Just keep it in 3rd and stop pressing the gas when it sounds like its going to blow up.
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