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Thanks now I know where to start.....once I see what I have I'll report back. All this help is awesome. Thanks to all.I was wrong and stand corrected. 94 uses a VSS in the trans. If your 700r4 is older it might have a cable setup. Jags That Run (JTR) has VSS's that will connect to them. You may still need to correct the gears to get an accurate speedo. Or you might be able to get a adjustable DRAC. It's between the VSS and the speedo.
Look on the side of the trans case on the passengers side oilpan rail there is a number stamped into the case giving the year of the trans. While you are down there see if it has a threaded fitting for a cable or a VSS to connect 2 wires to. On the drivers side tailhousing.