#1
I haven noticed lately that I have been moving my elbow alot when I play so I've been trying to cut that out and start using my wrist and fingers more. Does anyone have any tricks or something to help me stop moving my elbow or anything? Or is this gonna come down to cold hard practice?
#2
You could try and make a sling for your picking arm. I don't know if this will work, but it's worth a try. It might look dumb, but it could cut down on the extra movement pretty quick.
#3
^A sling, please tell me you aren't serious

When you play try keeping your pinky and ring finger anchored just below the pickups, where a pickguard normally would be. Thats always been my comfortable position anyways so I can't sympathize with you, but I imagine it would force you to only move your wrist.
#4
"Anchoring" for stability of picking, is ultimately a limiting habit. You can pick just
as accurately with a free hand with practice and the freedom & mobility of that
can open up new territory in your playing.

As far as elbow goes, there's nothing particularly wrong with it. Ideally, the most
efficient picking is a combination of wrist & elbow (and even some shoulder).
The main thing is to make sure all those parts a loose and relaxed. A lot of people
just focus on the wrist and stiffen everything else in an attempt at accuracy --
that's bad.