sheldon brown is your friend.

buy $5 park cone wrenches at your lbs.

overhaul the whole bike while you're at it.

by '87/'88, lots of hubs were cartridge bearing, not loose ball. if so, let an lbs remove the cartidges. you can install and adjust the new ones yourself using a big socket from your socket set and your new cone wrenches.

if the axle is bent, buy a new one online ($15 or so), or get a good used one from your lbs/co-op.