My 2 cents:
I think you could work on your hip and IT band flexibility and strength, that is, work on rotating your hip outward to order to prevent it rotating inward and collapsing down. Work on the right leg more than the left, seems more of a problem that side - though its hard to tell. You look to be leaning a bit on your left because of it. Continuing to run without addressing this issue just makes it worse.
As your develop the strength and flexibility to rotate your hip/thigh outward, your knees and feet will corresponding straighten up and fall more in line with the direction of your running - eliminating your knew pain and the need for orthotics (which are usually just a fix for issues higher up the leg). And you will go faster.
I have had problems worse than yours and have done this and it helped immensely. The idea is try push you hips in the direction of bow leggedness, especially on the side that is least inclined to go that way.
I developed my own more targeted versions of these two kind of exercises
eg. Hip stretch: find a ledge about belly button height or just below. Lift one foot on it, with 90 degree bend in your leg try to push knee down as so flat as possible (be careful).
Something like this though standing up straighter and in situation that allows you to flex that knee a low as possible, ie below horrizontal:
For strength work I use a pretty thick stretching band, using thicker bands to progressively add resistance to to rotating the leg outward. Hook the band over and between both knees, lie on the floor on your side, knees 90 degrees. Find a way to anchor the bottom knee down with a heavy weight or stick under small at the bottom of your couch or something. Then lift and rotate the knee of the top leg (this is mostly going to be your right knee I think) upward/outward as far you can while keeping your ankles together. Hope that all makes sense.