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jack up the front end, and set jack stands under the front axle. grab the tire at 12 O'Clock and 6 O'Clock and try to move it from top to bottom. if it is tight, fine. if movement is there, the ball joints will need to be checked, or the wheel bearings need to be tightened.
next grab the wheel at 3 O'Clock and at 9 O'Clock. shake back and forth (with the steering wheel locked). if there is movement, then you will need to get someone to look at each piece in the front end to see where the play is. it could be the tie rod ends, or steering box.
another thing to check, is with the engine off, see how much play is in the steering wheel. if it is only like 1/16 turn. OK. if it is like 1/4 turn, check the slider shaft between the rag joint and column. i have had the shim fall out on my 88 twice.
Also, if the suspension is fine you can adjust the gearbox. There is a adjusting nut on the box, it's a allen head with a jam nut. Very important!!! Do Not turn the allen screw in more than a 1/8th of a turn at a time, until you get the steering wheel acting like you want it. Don't go more than an 1/8th of turn because when you test drive it, it can dart from lane to lane with little wheel movement. This is a last resort though before buying a new gearbox.
With the engine off, have someone constantly rock the steering wheel both ways while you are under the hood with a flashlight, inspecting the steering components. Follow the path down the steering column, gearbox, pitman arm, tie rods, and steering arms, looking for any signs of lost motion.
I had this same problem. It turns out that one of the bolts that mount the gearbox to the frame had broken, and the other two were loose!
If you adjust the steeering box, make sure the wheels are straight before you start. Do it a little at a time like crawlinrs said. You may find even replacing the tie rods and doing the adjusting etc., that the box is just worn. It may need to be replaced. My 90 is doing the same thing, and I have replaced everything worn, and did the adjustments, but it is still loose. The box is next.
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