I am not 100% what you mean by slide on the shaft. The shaft slides into the flywheel. But the PTO only spins. It's screwed onto the crankshaft, which turns the flywheel which turns the driveshaft which turn impeller. Everything moves the same direction, the same speed.
If something I sliding then I suspect you are talking about the driveshaft. You might be missing the rubber bumpers on either end of the driveshaft and you have some play in the driveshaft which could cause it to slip.
If the PTO is moving then something has gone wrong with the crank. Maybe the threads stripped, although I never heard of that before. Does this ski run?