Is there a valve that releases fluid when too much is put in the transmission of 2002 Lincoln LS V8?

No, there isn't a valve specifically designed to release excess fluid from a 2002 Lincoln LS V8 transmission if too much is added. Automatic transmissions don't have a built-in overflow system like some other fluid reservoirs. Adding too much fluid can cause serious damage. The excess fluid will likely be pushed out through seals or cause the transmission to malfunction. Overfilling is detrimental, not something the transmission is designed to handle. Always follow the manufacturer's specifications for the correct fluid level.