Are you sure the wheel is from a plunger? Plunger hubs have two bearing locking rings. S/A Crinkle hubs only have one. All locking rings are L/H Thread. Wheel bearings are the same for both hubs.
Datum for these hubs is the circular bearing support ring 65-5884 described as a thrust washer. This goes into the hub first, on the chainwheel side. Follow with the bearing and locking ring. This needs to be reasonably tight, holding the bearing against the support ring, itself being seated on a machined ledge within the hub tube. This bearing sets the position of all the other parts. Add the central spacer from the other side, then the bearing and locking ring.
The problem is that the latter outer race in both cases is not supported, in fact the Service Sheet for the Plunger Hub recommends moving the race into the hub, allowing the central spacer to push out the left hand bearing. Over tightening the right hand side locking ring on the plunger hub puts sideways load on the bearing as you have found. It just needs a dab of thread lock and a light nip up. This is why the later S/A hub dispenses with the ring, and in effect here the outer race simply finds its happiest position. No special tools are needed, a look at service Sheets 212C and 212D reveals all.
Swarfy.