Yes, it happens fairly frequently. Changing the front seal for an aftermarket seal made of Viton is the long term fix. It requires removing the trans to change the seal. Sometimes a new bushing is required, and once in a while the torque converter shows some damage and also needs to be replaced.

Another approach is to improve the trans cooling. Replacing the stock air to oil cooler with a cooler from the 6.0L truck usually is all it takes.