I just picked up a sweet '98 Ranger, but the shift knob came off on the test drive, so that's first on the list to fix.
I know that the most common avenue is to just glue it on, but I wanted to be able to get it off easily, if I need to.
Here's my solution...
1st, removed the knob and got a measure of the shaft, about 3/8".
I do stone work for a living, so I had some 3/8" sleeve bolts laying around.
These are used in masonry, and are available at any hardware store for about a $1.
Slide it into the shaft, until it is in as far as it will go. It's a tight fit, so you might have to tap it slightly to get it all the way in.
Tighten it up, and it will pull the base into the sleeve and expand to fit tight.
Next, I took a 5/16 spade bit and drilled/cut the center of the knob down by the depth of the nut.
I also bored out the center of a 5/16 washer to fit over the shaft.
I put the knob back on the shaft, along with the drilled washer, and a 5/16" washer than had not been drilled, and there was a little slop, so I drilled out a nylon washer to fit over the shaft, too, snugged it all down, and marked the threads above the nut.
I took off the knob, so that I could cut the excess threads off with a cut-off wheel...
The cap was still in the way, so I ground out the plastic ribs.
Then I reassembled everything, tightened the nut tight, and popped the cap back into place.
It was about an hour's work, and maybe $3 in materials, and if I want to remove it, it should be fairly easy to do.