When does it feel loose? When you are standing still in PARK? or just when driving? If in PARK, how far do you have to turn the steering wheel before the tires start to move? There is a steering box adjustment, but I wouldn't do that before making sure everything else is OK, like tie rods joints, ball joints, etc. Check to see if the body shifts on the frame when you turn the steering wheel, ie. body mounts or bolts bad.
The wining noise is probably coming from the PS pump. That's not uncommon with Broncos. You could replace the pump with a new one of the same type, rebuild it (kits available at most real parts stores), or do a Saginaw pump conversion.
Good luck,