A couple of things you should take a look at is the bushings in the upper control arms and your differential. Most likely what I think is happening is that you are lifting the rear inside tire just a bit, to the point where you lose traction. The reason for that is the combination of your control arms and panhard bar. The panhard bar and mustang style 4 link (upper control arms at an angle) do not really work very well with each other. Panhard has one motion ratio with a bit of a side to side swing, while 4 link moves slightly differently, and together these motions aren't working well. The only way to run panhard bar with 4 link, is to have the stock upper, and on top of that, the bushings in the uppers will take one hell of the beating. When I took mine off to replace with torque arm, the upper bushings were toast. If you want decent suspension articulation, you will most likely have to do either of the following two:
1. Replace Hotchkis uppers with stock uppers
2. Remove / disconnect the panhard bar.
The best choice in my book is to get torque arm, but that's a whole different step.