Test it first. If it ain't broke you'll save money by not fixing it.
Whatever the case may be, it is easy to change. It is located on the back of the intake manifold with a hose going to it from the crankcase breather, the little plastic widget with a hose to it and the intake hose. The PCV is a metal fitting with a hex flange. Unscrew it and it comes out. You can test it by pulling a line off the aforementioned widget and sucking/blowing on the line. The PCV valve should allow air to flow one way and not another.
I know there is a guide for changing it on Scoobymods.