Sounds like it is time to rebuild the PTO. It is slipping more than likely.
Also welcome to OCC glad to have you here.
You can find a service manual for your 127 in our Garden Tractor Library. Just go to home page and scroll down till you see the library listed. It will help you with all of the repairs and maintenance you will have to do eventually. 
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DWayne
1973: 128, ag tires, 3pt. lift, spring assist, lights, 42" Deck
10" moldboard plow
2016 XT1 42" deck 18HP
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