POTENTIAL CONFLICT OCCURS WHEN AN MD80 FLT CREW LOSES PARTIAL AND TEMPORARY CTL OF THEIR ACFT WHEN DSNDING IN TURB NEAR MLU; LA.

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BEGAN ENCOUNTERING INTERMITTENT MODERATE CHOP AT FL280. REQUESTED A DSCNT AND MADE A PA FOR THE FLT ATTENDANTS TO TAKE THEIR SEATS. SEATBELT SIGN WAS ALREADY ON. LEVELED OFF AT FL260. AFTER A COUPLE OF MINS; BEGAN TO EXPERIENCE MODERATE CHOP. REQUESTED A DSCNT TO FL240. WAS GIVEN CLRNC TO FL250 TILL CLR OF TFC AT FL240. AUTOPLT WENT TO ALT CAPTURE AT FL252; AND THROTTLES BEGAN TO MOVE FORWARD. ENCOUNTERED MODERATE TURB AND NOTICED ALT AT FL248 AND RAPIDLY DSNDING. TOOK OVER MANUALLY AND STOPPED DSCNT. ALT STOPPED AT FL246. TCASII SOUNDED 2 'TA'S.' TFC APPEARED TO BE ABOUT 2 O'CLOCK POS; 5-6 NM AND FL240. STILL IN MODERATE TURB; ACFT BEGAN CLBING RAPIDLY THROUGH FL250. STOPPED CLB AT FL260. ZFW CALLED AT THIS TIME TO ASK IF WE WERE AT FL246. ADVISED CTR WE WERE AT FL260 DSNDING TO FL250. TOLD CTR WE HAD DSNDED TO FL246 AND THEN ACFT HAD RAPIDLY CLBED TO FL260. LEVELED OFF AT FL250 TILL CLRED TO FL240; THEN CONTINUED DSCNT TO FL240. ADVISED ZFW OF THE SIT AND ASKED IF THEY NEEDED ANY MORE INFO. CHKED WITH FLT ATTENDANTS AND WAS TOLD THEY HAD ALL BEEN IN THEIR SEATS AND EVERYONE IN BACK WAS OK. SENT IN POS RPT OVER ACARS RPTING MODERATE TURB OVER MLU AT FL250. CONTACTED ZFW AFTER THE FLT; AND WAS TOLD THEY PLACED US AT FL246; 3-4 NM FROM TFC AT FL240. CONTACTED DISPATCH AND NOTIFIED THEM OF NEAR MISS AND ALTDEV. WE WERE IMC DURING THE ENTIRE INCIDENT. WX RADAR WAS ON -- TURB MODE SELECTED -- NOT PAINTING ANY RETURNS EXCEPT GND RETURNS.