I'd still try and get the old one out, but now that we know what year you have. Over by the AC compressor there is a flat round spot on the intake manifold, where the earlier year motors had another temp sensor. You can drill that out and tap it.

 

I recently bought a 97 with a 5.2L from a 99. I wanted to add the sensor but did not have the tools or expertise with which to drill out the intake manifold. Instead, I spliced into the coolant hose nearby. The previous owner had already put a Coolant Flush T-Adapter ($3 or $4 from auto store/Wal-mart) in the hose. It has a a male garden hose adapter on top and usually uses a cap. I removed the cap; I bought a FGH to FIP(female garden hose to female pipe) adapter. The sensor needs a 1/4" female adapter; you might have to go FGH to 1/2" FIP then 1/2" MIP to 1/4" FIP. Mine works great. Pics of the finished project later if I can get them off my camera.

 

Here is the photo.

 

Yeah, there is a splice in that line in any event. (piece of steel pipe, about 4 inches long. clamped on both sides.) Perfect spot for it.

 

I was going to mention that location, but I don't think it is going to be as accurate. Close enough maybe.