Yep - new bushing is less than $10 - part number MB580253.
It's not a terrible job, but you will need to get the pin holding the TC lever together pushed out with an actual press, at a machine shop or maybe an independent auto service place (that's where I had it done for $5). Put the bushing into place, then have them press the pin right back in.
Also, you can buy a used TC lever from an older Montero, like prior to 1997 - they had a teflon-type material bushing that apparently didn't disintegrate. That's easier, of course, but maybe more $$$.
There are a couple good threads here on this forum about the job. Once it's done, it's much better. My TC lever was super loose and vague without a good bushing.