Your 2.3 engine has both a PCV and a small oil separator. They are connected just under the intake manifold and you should be able to see the PCV sticking out somewhere in spaces between the first and second cylinders of the intake. This, on fuel injected system, connects up to the air intake on the Throttle Body and pulls the air in for burning in the combustion.
The separator is not much more than a tin can with a divide inside to try to allow oil that is thrown up to drop back down into the pan...and typically works fine...unless there is excessive pressure inside the engine that causes the oil to vaporize. This usually results in excessive oil burning...
If the PCV is not working properly it is a simple enough thing to change and inexpensive enough that it won't set you back too much...if you've never changed it...it won't hurt to change it now...it may help.
I guess, having said all that, that it might be a good idea if you could maybe elaborate a bit more if possible...like what makes you say the PCV is not working correctly...are you getting excessive oil useage, burning oil, or oil coming out of the dipstick?
Blow-by is a common problem with these engines, especially when they are high mileage...and there is no actual easy fix if the problem is with wonky rings...although the engine can last several thousand kilometers with minor oil consumption issues, environmental laws and emission laws tend to be a bit expensive even if you don't have to do emission testing in your area...a burning oil cloud will attract unwanted attention quite effectively...trust me...
