I had the exact same problem with my odometer. I have the VDO odometer from a 1970 220 (W115). The wheel at the end of the row of numbers no longer rotated with the axle.
Since the wheel was metal, I used a soldering iron and 'tinned' the inside of the wheel where the pressure sleeve was. This effectively made the hole smaller so it could grab the axle again. It was so tight, I had to _carefully_ tap on the axle to put it back into place.
It worked quite nicely, but I'm fully expecting it to slip in a year or two.
With my odometer, I can't think of a good way of applying loc-tite to the wheel since all the numbers are so tightly packed within the frame. I guess you could use a tiny drill or Dremmel to cut an access window in the frame so you can apply the loc-tite after it's assembled.