Help!!!!! 700r4

[68Punishergto]

i bought a 1989 GMC Suburban about 3 months ago, and the trans has been leaking since. now the trans has been rebuild twice once since ive had it. ive narrowed the leak down to the governor cap/cover. i had it replaced and it was still leaking, so i put some RTV(red) around it and put it back on the day i drove it back from skool after this i fairly large hole blew out of this cap my question is what would cause this? how can i fix it? and what else should i look for?

Thanks,
Brian J