ATF motor flush in my '82

[Rooster's82]

Recently, i have been having problems with my engine pinging. After having my timing set i was told that it could be from carbon build up, which heats up and glows causing pre-ignition and pinging.

I have recently read that you can use ATF to flush carbon and sludge out of a motor. I am very leery about doing any motor flush, seeing that I'm working with an engine built in '82 and don't know how much of it is being held together by sludge and carbon. I should add that the motor smokes a little at start up, especially if it has been sitting for any extended period of time, obviously something is leaking internally and i don't want to make this worse. Basically is the risk worth the reward?

I have read a ton of stuff on the internet speaking both of the virtues and pitfalls of running ATF fluid as an engine flush...what do you think?