I have itchy elbows, red with white bumps and scaliness. What is the best ointment/treatment?

Psoriasis. Most likely psoriasis, from your description, although we'd have to see it to be sure. The over-the-counter ointments are not much use against it, unless it's really mild; you'll need to see a dermatologist to get a prescription.
Psoriasis. From your description and location sounds like psoriasis which responds to steroid creams and ointments prescribed by your doctor.