Car Bounces after 60 ft. What is causing this??

SpareParts has the right idea, it's called porpoising and is a matter of spring rates. Front and rear spring rates are allowing the weight to rock back and forth. A friends Volare does the same thing but, very mildly. Keep tightening the rear shocks or maybe try a lighter set of T-bars, until it quits. For as quick as the car is you don't seem to get much fronted rise, what bars are in the front?
I measured them at .8", so they are /6 bars. Also I raised the front end when I went to the taller tires in back. Maybe I should lower it back down and allow the front to come up more at Launch. I think I also need to try footbraking at a lower rpm to see if I get more transfer. I've had people suggest to go all the way down to 6.5lbs on the tire pressure.