Are you sure that the threads on the lockring are ok (all the way round the hub?). If they're gone the cog would just uncrew the lockring, and I wouldn't ride that hub anymore.
(Oz is talking about locktite, I wouldn't consider it sufficient to use on a hub with an undoing lockring that you need to use as a brake)
I was describing how much to tighten the sprocket if you don't have a chainwhip.
I was describing how much to tighten the sprocket if you don't have a chainwhip.