What happened to you was a result of the poor rear suspension design on our Mustangs. The stock 4 link has angled upper arms with rubber bushings that bind up when a side-load is put on them (i.e. when you are taking a corner). This introduces extra spring rate, restricts suspension travel, and does not allow the springs and shocks to do their job properly. When the back tires break loose because of this, all of a sudden there is much less force binding the arms (since your coefficient of kinetic friction is much less than that of static friction) and the rearend gets very skittish.
Getting a panhard bar will prevent lateral motion of the rearend and also allow you to get some upper control arms with spherical bushings that will not bind (obviously with spherical bushings and no panhard bar the rearend would have a lot of side play).
Of course, the best solution is to get the above and a torque arm, or the Steeda 5-link setup, but this route gets a little pricey.
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2000GT Atlantic Blue: Cobra R Wheels-17x9 255/40/17, 17x10.5 315/35/17, tubular K-member & control arms, Tokico 5-ways, coil overs, sway bars, strut/shock tower bars, 70mm FMS throttle body, Saleen nose.
79 Pace Car: Maximum Motorsports suspension - H&R Race springs, Bilsteins, rear control arms, chassis bracing, Draglites, 302 w/ Edelbrock Performer intake, cam and 600cfm carb, BBK equal-lengths & H-pipe, 2.5" Flowmaster 2chmbr exhaust, Al Driveshaft, 8.8 trak-loc, TCI C4 w/ 2000 stall, B&M
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