I like what you are trying to do. I am surprised that the PTO shaft came off of the blower - I know in the case of my blower it has never come off the shaft - when the shear pin fails, the tractor PTO output shaft keeps turning and all power to the blower stops.
What sort of angle does your universal shaft sit at when using the snow blower - that might have something to do with problem. I have learned as I have gone along and don't profess to know that much, but I do know that the shaft angle affects the loading of the two universal joint and thus, the end result.
If you get the shear pin arrangement sorted out, I would take a good look at the two universal joints. Are they loose at all - they look to be well used in the photograph and could be original. If I was using your blower, I would worry about those failing at some time in the future. The replacement parts are cheap and should give you more peace of mind if replaced.