Your clearly hitting it well long-gamewise. My first bit of advice to anyone whos struggling with shots under 120 yards is to ensure you start your backswing with your lower body. Try standing in front of a mirror to see the difference. Whenever I see high handicappers or low handicaps who struggle with these shots they always tend to get too steep. Contrary to what most people will tell you, this shot is about coming in relatively shallow. For example, many times i hit behind the ball slightly on fairway 100 yard shots and they still go 'makeable' putting distance-because I am using the bounce of my wedges. From the rough is a different story. From the rough it actually works better to come in slightly steep as the leading edge digs in and twists you into a good position. Getting good at wedge play starts with an understanding of how the bounce of a wedge works. Try watching tiger pitching, or even phil mickelson. Tiger says that the key is keeping everything in one piece. You can achieve this easily by starting the swing with your hip/lower body turn. Thing of that as a go signal to start your swing. Google or youtube phil mickelson and watch him. Even though he talks about lead and lag, watch the lower body rotation from the word go, and then his rotation through the ball. I see so many 2-5 hcp players hit it solidly enough to play off -1 but they lack an understanding of the fundamentals of pitching and 120 yards in.
So to summarise-
1- try and put weight slightly on left side.
2-ball position opposite sternum or 1/2- 1 inch in front of sternum-more forward in stance. Hands equal to ball or slightly-only slightly ahead.
3-start takeaway with lower body-by rotating hips. This will keep hands in sync with lower body and lead to a shallow angle and more room for error.
Another point that helped me greatly is to actually stare into the back of the ball. This is personal and i like to do it because i always figured that hitting slightly behind as a bad shot was better than hitting thin as the bounce tends to work its magic if i hit behind but not in front.
Hope this helps you guys. I know how much of a struggle wedge play can be.