if you are getting wrap that bad, your shocks are definitely blown. I'd probably invest in some new replacement springs too, your are likely worn out (and they are pretty soft to begin with).
that's how I solved the wrap problem on my old Bronco...rubber bushing at the frame, 3/4" rod end at the axle, and some 1.75" tubing. It was night and day better, and helped with sway in the back too. "2 Links" force the rear to work like a parallel 4 link (with an upper that is slightly flexible).