Check for a gas leak maybe on the belt and check the belt for alignment.
diagram for serpintine belt 92 dynastry
To replace the serpentine belt on a 1992 Dodge Dynasty, first, disconnect the negative battery terminal for safety. Locate the belt routing diagram, usually found on a sticker in the engine bay, and use a wrench to relieve tension on the belt tensioner. Remove the old belt, then loop the new belt around the pulleys according to the diagram, ensuring it's seated properly. Finally, reapply tension to the tensioner, double-check the belt alignment, and reconnect the battery.
belt diagram 1992 dodge Dakota with 318
Could be the belt in the tire, that can cause it to squeek, also it could be the wheel bearing or the C/V Joint.
http://autozone.com/servlet/UiBroker?ForwardPage=/az/cds/en_us/0900823d/80/0b/a2/88/0900823d800ba288.jsp
http://autozone.com/servlet/UiBroker?ForwardPage=/az/cds/en_us/0900823d/80/0b/a2/88/0900823d800ba288.jsp#hd1-1-3
3.0 has a timing belt behind plastic covers that are behind the accessories E.G. Alt. & PS
To change the serpentine belt on a 1991 Dodge Dynasty, first, ensure the engine is off and cool. Locate the belt routing diagram, usually found on a sticker near the radiator or under the hood. Use a wrench to relieve tension on the belt by rotating the tensioner pulley, then slide the old belt off the pulleys. Install the new belt following the routing diagram, ensuring it is properly seated on all pulleys, and release the tensioner to apply tension to the new belt.
Its not neccissarry, but you can if you want to, as long as the belt looks and is in good shape then you dont need to.
To install a serpentine belt on a 1990 Dodge Dynasty, first, ensure the engine is off and cool. Locate the belt routing diagram, usually found on a sticker under the hood, to understand the correct path. Loosen the tensioner pulley using a wrench to relieve tension on the old belt, then remove it. Finally, thread the new belt according to the routing diagram, re-tighten the tensioner, and check that the belt is properly seated on all pulleys.
I have a 92 dodge dynasty and I went to the salvage yard and drew a picture of one, went home and put it on. Works great now. When I tried to get a picture of the belt pattern from the auto parts store, it didn't match up with the way the pulleys were on my car.
Your belt is either to big or just plain worn out.