Well, it could be a few things. Anywhere from minor to major.
First, make sure that the wires are plugged into the side of the tranny. Try pulling your brake pedal up just a little while cruising on the highway at a steady speed. The switch might be out of adjustment just enough to prevent lockup. If that doesn't work, then drop the pan and check to see that everything is plugged in. If it is, then you may have a bad solenoid. If that's not it, then it could be something in the tranny is messed up, or more likely, the tranny has been modified to run a non lockup converter, in which case you would have to replace the lockup valve in the valve body, and put a lockup converter back in.
Brian