Tuning a Proform/Holley carb, what parts and tools?

Finally got a spotter to ride along, fuel pressure drops to ZERO after a few seconds at WOT!

New stock tank
3/8 sender and line to Carter M6902
https://m.summitracing.com/parts/crt-m6902
-6AN to QFT regulator and to carb
No return line at this time.

Why is this setup not working?

What is my best option to fix this?

Okay now you got some more diagnosing to do.
Inspect your 3/8 fuel line for kinks or damage.
Disconnect the line at the tank and fuel pump and blow thru it with compressed air to check for flow or any thrash in it.
If all is good,drop your tank and pull the sending unit out and check your pickup screen.I know you mention that your fuel gauge doesn't read right anyway, may good time to fix.
If your tank is full and you do not want to drop yet,you could drive it till it empty.
Is the sending unit new?