Pretty safe bet given the description that the current trans is in full failure mode and needs to come out. No band aids big enough to restore even temporary limp mode at this point. That takes you to your fork in the road. Overhaul the current unit or swap to the 50/50 donor. Guiding questions:
1. Do you play texas hold 'em? The oft-used expressions "worked before pulled" and "running when parked" can be like fishing for a flush on the river card for the new owner.
2. Is the donor from a Scout II 4x4, some other IH vehicle, or out of a mopar? If the answer is sii 4x4, continue reading. If any other, you can skip ahead to overhauling your current unit.
3. Does the donor trans include a torque converter? You shouldn't trust the torque converter in your current unit any farther than you can throw it. They're fairly heavy. Any used converter makes for a risky proposition as well. Installing a new/reman converter is sop for just about every auto trans overhaul situation.
4. Has the donor equipment been stored indoors, preferably covered up to minimize moisture contamination since being pulled? If the donor is still an option, I suggest you set it up on some kind of low, sturdy bench, set a pan under it, pull the dipstick tube and carefully tilt the trans sideways to drain the fluid out. If the fluid is bright red and not frothy, that's good. Once drained, remove the fluid pan for a look inside. See any heavy sludge in the pan bottom? Significant accumulation of friction material or metal shavings? If everything looks real purdy inside, you might have a winner. At which point a swap is slightly less risky, but still a gamble.