3rd gear hits redline at 120. after that, you need 4th gear to go any faster. the car will only go into 4th gear if OD is on, so of course youll pull 120+ with OD on.
what i do: leave OD off until i need to go over 120. If you have OD on, the car will shift into 4th earlier, at about 105mph or so, regardless if your at wot with plenty of room to pull in 3rd. Right before 120, flip the od back on, and keep pulling. This is of course racing, normally i just have OD on to help w/ fuel economy.