There are 3 speed and 2 speed wiper motors, each has its own corresponding switch. The one in your picture is a 3 speed wiper motor, so, you need a 3 speed wiper switch.
On an E-body the arms should "park" and be hidden under the hood when they're in the proper location, and they should return to the parked position regardless of when you turn off the switch.
This is from
@moparmat2000 in another thread regarding the function of the "park" mechanism, maybe he'll chime in