As long as you got a good contact restored on that O2 wire and taped it back up securely it should be fine. But if your missfiring that badly I'm curious why a missfire code hasn't popped up. 'Cause the way you described it, it sounds like a pretty bad missfire. Maybe cruzaleks's got some more wisdom nuggets up his sleeve. I've read a few of his posts and he definitely knows a thing or two about cars. I suspect he may be a mechanic.
Again good luck on tracking down and solving the problem.

Also, you need to track down and isolate the specific problem for your code and remedy that first. Your O2 sensor is primarily used for emissions purposes. I may be completely wrong, but, I don't believe that a faulty O2 sensor would throw that code. Many people here would say stop throwing parts at your car and get a specific diagnosis. Anyway I feel your pain man you just want it to run right and there's nothing wrong with that, but, don't just throw away money on parts that don't need replacing.
Best of luck man.