wrongway
I live for the CABE
take the wheel out of the frame, put the parts as they should be on the left side of the axle, use a cone wrench on the cone and open end wrench or crescent on the lock nut and lock those down tight against each other on the axle, then do the same with the drive side making the bearing adjustment as you like.
The Schwinn service manual has all this info
Schwinn Service Manual Volume 1 & 2 | Bicycle Restoration Tips
http://thecabe.com/forum/threads/schwinn-service-manual-volume-1.81415/ http://thecabe.com/forum/threads/schwinn-service-manual-volume-2.81579/thecabe.com
I played around with it at lunch and put the one extra washer on the one side to the other. I also checked the bearings. I think it looks about perfect now. I still need to tweak it some more and get the lock-nuts tightened down. Thanks for the Schwinn manual. That's a gold mine of info!
