Electrical Help Needed - Big Time

At best-maybe. But you may have a broken brush holder in the alt. that is grounding out one side of the field and causing your problem. You need to get your multi-meter out and take readings (ohm it out with the cars battery disconnected).

Don't want to seem too useless here, I do have a mutimeter but I'm unsure of the testing procedure. Is it between the field points and the main output ?? If so, what should the reading be ??