I have a 01 Trail Blazer, when i get on the throttle and it starts to pick up speed I hear the chain skip a tooth. Would this be the chain being too loose or too tight? I checked the chain and it did not feel overly loose so should I tighten it more or loosen it some. I appreciate the assistance in this matter.

Sounds more like the counter sprocket is missing a tooth.Should have no more than 1in play closer to 1/2 in