I've found this thread a great help over the last few days as I attempt to solve the same problem on my lad's rear wheel. In common with the original poster the wheel has been fine for years and over recent months four valves have split horizontally at the base. The wheel is a DRC touring and on investigation I see it is a "double" construction, i.e. there is effectively an inner and out wheel with a gap between the two - don't know what this is correctly called. It's clear the valve has been splitting where the valve base is in contact with the inner section.
To date I've carefully cleaned and smoothed the hole in both sections and then used three layers of electrical tape, on the inner section, to cover the metal edges to protect against any remaining rough edges and help the valve seat more securely, but not rigidly, in the hole. Though I think I know how to fit a tube I've paid special attention to comments here and especially ensuring the valve is correctly seated inside the tyre after fitting. I've also talced the tube. I've educated my son in all of this to be sure he changes his tubes correctly.
The wheel has been serviced, new bearings, re-greased etc and trued. This needed doing and hopefully helps to eliminate the unlikely(?) possibility the wheel was somehow stressing the valve.
We will be testing the outcome this weekend.
The last question I have is re the "useless" locking screw. What are the arguments for and against? I've always used them when the tube is supplied with one but when not haven't. Logic says if the manufacturer supplies the screw and threads the valve the producer believes they have a value?
Would like to have opinions before deciding which way to jump on this issue.