Engine runs fine but seems to seize after wot

So after some research and much needed info from you all, I got it started. Turns out that the gas tank was low enough to not get fuel to carb but no so low that the gauge indicated. Also there is too much resistance in the wiring going to the ign switch but works when I jumper the starter switch. It starts but there is a chirping coming from the engine while running almost like a belt but more like a chirp.