Quote Originally Posted by VXorado View Post
...I ended up adjusting the bolt correctly by making sure the transmission was in park, then adjusting the bolt to match the shifter in the fully locked park position.

You might as well replace the sleeve first, but keep this in mind if that doesn't solve the problem.
Was it simply a matter of removing the cotter pin, loosening the adjusting bolt, making sure the trans lever was in park, tightening the adjusting bolt, then putting the cotter pin back in again?