The voltage regulator with an emitter follower at the output has poor voltage regulation because there is no feedback from the output of the emitter follower to the IC's error amplifier.
A 24VAC transformer rated at 3A has a power of 24V x 3A= 72VA. When it is rectified and filtered then the DC voltage is 24V x 1.414= 34V minus one or two high current diode drops (1V each) so its output voltage is 32VDC or 33VDC. The 72VA/33V= 2.18A which is the maximum DC output current, not 3A.
A 24VAC transformer rated at 3A has a power of 24V x 3A= 72VA. When it is rectified and filtered then the DC voltage is 24V x 1.414= 34V minus one or two high current diode drops (1V each) so its output voltage is 32VDC or 33VDC. The 72VA/33V= 2.18A which is the maximum DC output current, not 3A.