No, the el camino column is column shift.You can purchase the '83 El Camino column, swap it out with yours, then at a later time repair the Monte Carlo column and sell it. Floor shift tilt columns are desirable and sought after.
The only concern, other than the condition of the replacement, would be the compatibility of your wiper switch to wiper motor. In other words, if your current column has the delay function and the replacement doesn't you would need the delay equipped wiper motor.
Other than that, the '83 Elky is a direct swap to your '86 Monte.
Is the Elky column a floor shift column as well?
Also needed to know what all goes into converting a column shift steering column to work with a factory floor shifter.
Thanks