Sidda,
before you start thinking about advanced control architectures I want to ask you to tell me some details about your system behavior and the control parameters that you have used. I have used 73xx boards for very dynamical systems and I have always been able to find control parameters that resulted in a very fast and stable system behavior.
For the case that you need some help with tuning please have a look at
this link. In many cases autotuning doesn't result in good system behavior but you will find a lot of interesting hints about the manual tuning process there (e. g. that increasing the Kd gain typically results in a better damped system).
If this doesn't help please attach some screenshots from your step response and the control parameters that you have used.
Best regards,
Jochen Klier
National Instruments Germany