I just looked this up online and found a pretty good website. Although I havnt tried to do it yet on my own corvette I probably will within the hour http://www.diynetwork.com/diy/ar_1962_corvette/article/0,,DIY_13704_2278440,00.HTML this is the URL as well as some of the directions from the site
the next step in this restoration is to adjust the Corvette's steering using the steering-box located underneath the hood. An earlier test-drive revealed that the steering wheel exhibited some play during driving. Since the other steering components have been checked and found to be in good shape, the play may be due to wear in the gears inside the steering box.
The Corvette's steering box permits adjustment of these gears, which may well solve the steering problem. Adjustment of the steering requires two people, but the job can be done in just a few minutes.
If the gearbox is causing freeplay in the steering wheel, then the gearbox needs to be replaced.
Bad coupling from the steering wheel to the rack & pinion or steering gear. Faulty steering gear
To convert the rotational movement of the steering wheel, into linear movement at the wheel.
u cant make sure wheel bearings and all other suspition is tight
It could be worn tie rod ends, if not then you need to check the steering box. The worm gear could be worn and you can adjust it with the nut on the steering box.
Steering boxes can be tricky to adjust. Takeit to a garage or dealer.
You have to adjust the tie rods ends between the steering arm and the power steering gear, just make sure your wheels are set straight ahead, and that you don't have any alignment problems. If you don't want to do this on your own take the Blazer to your nearest alignment center and have them center your steering wheel.
You should NEVER have to adjust a new gear box. You have other front end problems that are worn out.
the stickshift in the car, either on the steering wheel or on the floor
A collapsible steering column is a mechanism that is used to transfer energy from the steering wheel into the steering gear box, which transfers energy to turn the wheels of a vehicle. Though the designs for steering columns have varied since their inception, a typical collapsible steering column looks like two interlocking shafts that attach directly to the steering wheel and the steering gear box. The steering column is the shaft directly under the steering wheel in which the ignition and automatic shift levers are often located.
turns a shaft connect to steering gear box, which then turns wheels through different ways
The steering gear has failed.