So when I do this do i need some gasket sealer when I put the new gasket in? Also where do u think i can get an inch pound tq wrench?

You should be able to reuse the gasket from your trans pan if it has a metal insert which I believe the factory gaskets do. If it is just a floppy rubber gasket it is a good idea to replace it. You should be able to get an inch pound torque wrench from your local hardware store.

you need a really big pan to catch the 6+ quarts that will come out

If you get your stuff from O' Reilly they'll be able to rent you an inch-pound torque wrench. I think Auto Zone rents tools too.

Not only is there a lot of it, but it tends to come out all over. It helps if you loosen one side, then slowly start the other. This way the fluid tends to come out on just the one side.

need a funnel that will fit in the trans tube.

Check out the trans fluid/filter write up in tech info in the general maintenance. It will take you threw it step by step.

Something to keep in mind is that there are 12 inches in a foot. This stays true when torquing and converting from inch lbs to foot lbs.

Being that the torque is 120 inch lbs for the bolts, you could substitute with 10 foot lbs. (10 x 12 = 120)

Most foot pound torque wrenches don't go below 20 foot pounds. Personally, I prefer inch pounds up to that point anyways. Better control.

Quick note on torque wrenches. My wrench from Menard'* failed (17.99) and went to buy a replacement at Menard'*- but they had no better quality than the 17.99 model (made in China). Went to Sears- Craftsman on sale at $72.99- made in USA, didn't want to spend that much. Went to Home Depot- Husky brand 75.99- same exact wrench as Menard'* out of the same factory except a different lock handle. Went back to Sears and bought the Craftsman.

BTW- Menards is carrying many large tools that Sears no longer carries in its stores- like a 36mm 1/2 deep socket. And Menard'* cost is about 80% cheeper than Snap On, Mac or Sears on many of these hard to find items- some are very good quality- a few are Chinese crap. Menards has the Irwin line which I find very good a priced really good.