The towing discussion comes up a lot on the FTE Excursion forum I frequent on a regular basis.. Yes you need a load equalizer hitch if you look at the data plate on the hitch its usually any trailer over 5000lb requires the LE hitch.. The air ride option is great because it allows you to level the truck to proper ride height which makes the geometry of the suspension and steering work at its optimum level. I installed air rides on my mom's Excursion for pulling her horse trailer and she loves them... much better ride and better trailering.
If you load the trailer properly you should not have a sway issue to start with. sway is caused by poor weight distribution in the trailer...
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DJ Phoenix (my modded) Hi-1200/240Tow/75FS/80DD/100/140SS +Minotaur
ASE Master Auto Technician
2001 Ford Excursion 7.3 4x4
Projects. 1970's Hustler and Max II Amphibious ATV's
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