So much great advice above!
I have reduced biting to almost zero over the decades... not because I've changed the bird, but I have changed me. And a lot of that has involved giving up on a lot of my desires/expectations. After years of battle, I "compromised". I don't do stuff that gets me bitten. I NEVER do stuff that makes him mad... I don't touch others when he's out; I rarely try to get him to step up onto my hand first. Hand-held perch first, then hand. In some ways, I swallow my disappointment at having such a little monster for a pet, but he is what he is. I ALWAYS wear my hair down when he's on my shoulder, so all he can bite is hair. Really, I don't involve hands much... he doesn't like them. He seems to think the real ME is my head, perched on a weird moveable tree with questionable appendages.
Since he's fully flighted, the ONLY way I get him into the cage is to toss a chile pepper in and he flaps in after it. So food reward is a necessity for me. Time-out doesn't exist in the Rb's kingdom.
I have had some success with using the "earthquake" technique for biting. When he bites, give your hand a swift shake... it should make him let go. The idea... every time he bites, a mysterious earthquake shakes him up. Some people feel this is mean and/or engenders lack of trust. The same can work for clothes biting... give your shoulder a shake, or jump! For me, it has helped.
But please... listen to and try all the good advice you'll get here. Chris is very wise.
Don't compromise until you know you've done your best. Then just accept and love whatever/whoever your bird turns out to be.
Parrots aren't always easy pets to understand and control, and your bird sounds ALL-PARROT!
My Rickeybird is in some ways kind of a worse-case scenario, but we have it all worked out between the two of us.
Parrot-owners usually wind up determining their own personal comfort level with various behaviors.
Good luck, and good for you for reaching out.