Replaced my inner tie rods today.
The passenger side was very worn, driver side was less loose. I used a box wrench to hold the rack's teeth so to keep it from turning while I loosened the inner rod with a pipe wrench. It worked like a charm.

The car now drives tight and straight and has very little play in the steering wheel.

Thanks again for the tips.

This is less likely than the possibilities already mentioned, but I would also check your steering shaft lower u-joint and the rack itself for excessive play. Either one can cause the steering to float as you describe. When the lower u-joint went bad on my 240 the steering was all over the place. Definitely not safe!!

Usually what happens to Volvos is the steering shaft lower u-joint binds up and makes the steering overly stiff and it does not return to center very well. Probably not an issue for you since you are in NM. The steering shaft u-joint can bind up here in the NE due to all the road salt, sand and other crap that is used on our roads in the winter. FWIW - I have had issues with the steering shaft lower u-joint on both my 240 and 850.

What you are describing is rack (tie rod) looseness. If that is indeed the trouble, that shop should not have finished and charged you for an alignment.

Lift the front end off of the ground under the crossmember. Grab each tire and shake it 3-9 o'clock and have someone look to see where the looseness is. If tie rods, you'll see the tie rod moving without moving its partner on the other side or the steering wheel.

Edit: I did not think to mention this, but loosely adjusted wheel bearings are a consideration, but you'll know that just as quickly when you wiggle the tires.

In any event, you should get an explanation from the folks who did your alignment.
--
Art Benstein near Baltimore

I was married by a judge. I should have asked for a jury. - Groucho Marx