Well I know all old cars will always have things go wrong with them, but do you think this could be a problem?

I was turning onto the highway today, red making a right on a red and had to catch up to speed quick. Out of nowhere a car comes riding up on my rear gaining in quick. The highway was 80km/h and the car was going at least 110. I punched the accelerator and when I got to about 4k rpm, the car felt as if it was not accelerating anymore and kind of like the tires were spinning. The road was not wet that I remember.

I have quite a bit of tread left on my tires so I didn't think they would be spinning, this happened in 4k+ in 2nd gear and also in 4k+ in third. As far as I remember, the rpm were still climbing as this whatever it was, was happening. Could this be a sign of crankwalk, my clutch slipping? I have not idea so whatever information you have, that would be great.

Car is a 1993 eagle talon Tsi AWD, it still has a 7bolt engine in it (unfortunately). The car is completely stock other than a cone air filter on my intake.