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Do 'em on the car.... Easy job. I've done a bunch this way. In fact, I save good tie rods from junkers just to keep my junkers running....:-)
You can straighten the peened-over section using a small chisel and small hammer. When I've replaced tie rods, I use a pipe wrench on the tie rod inner end. Sounds crude, is crude, it works. Likewise for tightening the new one. I allow the rack to float -- don't grab it -- and simply loosen/tighten the tie rod end against it. The rack doesn't turn much.
The "flange" is actually a large lockwasher. It has a hole with an internal tab, almost like a "D" hole. The tab fits into a groove in the threaded shaft, and then you peen the outer edge into a recess in the tierod end and/or rack end. (I think the Cam and ZF racks are similar but different in this regard.) This locks everything together.
If the tab has sheared from the hole, you should buy a replacement washer at the dealer. Be sure to install this washer and peen over the edge once you're satisfied with the installation.
Inspect the boots carefully. A rip will admit water 'n crud, ruining your new tie rod.
This is a good time to replace outer tie rods ends and ball joints. When you're finished, consider an alignment.
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