Once you find any item you can make as many copies of it as you want.
1. Create a dummy character. 2. Load a saved game and transfer all the good items to the dummy. 3. Remove the dummy character from the party. 4. Load the dummy character back in. 5. Transfer the items to other members. 6. Drop the dummy character from the party. 7. Repeat steps 4-6 as many times as needed.
This also works for Champions of Krynn and Curse of the Azure Bonds.