Don't know about the crapping/cramping, but I do have IT band issues. I've just been through a course of PT for my left knee, and learned some excellent stretches to do, along with strengthening the quads and hamstrings. The stretches you can find on the internet or in any good book on sports stretching.

I also learned that my kneecaps are turned slightly outward, so this problem will be something I just have to live with. In addition to scrupulous post-ride stretching, and sometimes icing, I wear a Cho-Pat strap, which is a kind of brace that helps to support and, in my case, minutely re-align the patella.

If I have to stretch and wear a knee brace for the rest of my life so I can continue to cycle, so be it.