I'm not sure if this your issue, but it sounds like your 3 point is out of adjustment. Raise your (unloaded) 3 point hitch all the way to the top. Then try to lift the 3 point by hand. You should be able to lift the 3 point about half an inch. If you can't lift it, you could be dead heading your cylinder which causes the problem you are describing. It is a simple adjustment. You want the 3 point to stop lifting before the cylinder bottoms out.
The thing that seams odd though is normally this issue only arises when the 3 point is fully lifted and out of adjustment. I haven't heard of this happening when the 3 point is lowered all the way.
One other thing to do is listen to the engine. Does the rpm drop slightly when you fully raise or lower the 3 point? If so, it means there is a strain on the engine, potentially from the cylinder bottoming out.