The 95 is about the worst trans you can have, and a number of improvements were made with 96, again in 98, then 99. To "turn" the 95 into what it should be you'd need (as a starting point) a new valve body, mechanical diode, stub shaft, filter, pan, accumulators, seals and all the frictions.
However with your 96 coming out of a Mustang, you can count on its being abused so it should be gone through and rebuilt before you install it anyway. Taking that a step further, you should just get a newer core from 99-03 or so (after that they started using turbine output shaft sensors instead of a gear), since it's going to be about the same price as the 96, and have it reworked instead. While that's being done you can swap your OSS into it too so you have a wider selection of speedo gears/rear end ratios available.