So I am new to the short wheelbase 4x4 world and have a question. My reg cab Toyota feels like I'm driving a 1980 Cadillac. When I hit bumps it goes up and down and feels like it floats. I think it's time for shocks, any thoughts?

 

Sounds like it.
If you have stem mounts, see bushing details on my post here
I also show what bad shocks do after compressing and several minutes after releasing.