A number of things or combinations of them could cause the symptoms you are having. This really sounds like a vacuum modulator adjustment could be a good place to start. It is a result of not having enough modulator pressure. The pressure is increased by a drop in the intake manifold vacuum signal coming from the engine. This signal actually increases or decreases the spring tension on the modulator valve and by doing this boosts a certain circuit of hydraulic pressure inside the transmission. If your engine is running good and well tuned, it may be delivering too strong of a vacuum signal to make the transmission behave satisfactorily. One of the ways you can compensate for this surplus of good vacuum is to either change the modulator to a different one or re-calibrate the existing one. In order to help you accurately, I need to know which version of modulator you have, how high above or below MSL (altitude) you are operating the vehicle when the problem occurs, and how many inches of mercury, intake manifold vacuum (in.Hg) your engine is putting out. This measurement should be taken with a vacuum gauge @ idle, fully warmed up, with the choke completely off. I have seen 4 basic types of modulators available for C-4s built between 1972 and 1981. Each is used in specific applications.
1) Red-stripe with two vacuum inputs (large & small) Usually found on earlier (73-74) vehicles where EGR was first introduced. This can in most cases be replaced with the green stripe version and get better results for the shift characteristics.
2) Yellow stripe, with one single hose connection for High Vac lower altitude driving. Usually found on larger engines with strong vacuum signals, and trucks with earlier governor shift point calibration.
3) Blue stripe, with one single hose connection for engines that generate slightly higher than average vacuum signals. These fit a small variety of applications of the C-4. This version seems to very uncommon but finds its performance levels between that of the yellow and green paint stripe codes.
4) Green stripe, with one single hose connection for average settings that fit the widest variety of applications of the C-4 and C-5. This version seems to be the most popular and widely used of them all.
Adjustment screw location:
All 3 versions may or may not have an adjustment screw, which is usually located inside the vacuum hose connection. You will find it by unplugging the hose connection to the modulator at the trans. The red stripe dual input version, the screw is not located inside the hose connection but in the middle of the rear portion.
It would be better to find out what version modulator you have and if it is adjustable first before going too much further. Also, Is your vehicle presently equipped with a functioning EGR system?
Not knowing what you have, I can only guess and tell you what you might try. This procedure is reversible. If your modulator has an adjustment screw, try turning the screw in 2 complete turns. This procedure will cause shifts to be firmer and stretch out the shift points to happen at higher road speeds. If this doesn't help your situation, It may be an issue of needing a modulator with the correct calibration for your engine. Fine tuning the actuator pin length is a more difficult service that should perhaps be done by an experienced technician who is very familiar with the C-4.
Sorry for the essay, hope this helps,
~BH