I have a 92 Taurus GL. I know for a fact that it will go above 85. Back in 92, they didn't have the capability to put a speed limiter in the PCM/ECM/CPU. To my knowledge the cpu is just a big relay and sensor center. The only way they could limit the speed back in that day is to do something with the transmission. What you are feeling is not a down-shift at all. It's called the torque converter locking up. So there are two things that can be done. Reprogram(rebuild) the transmission. Or............unplug the wire harness. The only problem I had with unplugging the wire harness is in 2ng and 3rd gear it shifts violently if you slam the gas. Unplugging the harness basically unplugs the accumulator pistons, and all they do is cushion the shifts. Along with that it disables the torque converter from locking in and out. We unplug them to diagnose torque converter problems. Do that, and take it for a test drive. On a stock Taurus it should only reach 120-125mph if your lucky. If you are really good, you can actually find the right wire on the harness and snip it so you can keep the accumulators working. However, if you do so..... You will not have over-drive. You will be taking some fuel economy loss. If you are worried about doing that, don't worry, I have done it, and it works.
Slam ranges
2nd gear - 15.5mph-25.5mph 3rd gear (passing gear) - 50 - 59.9mph.