1974 318 choke question

I call that device a choke timer. But in reality the Choke used with that timer is a fast acting type. So if you bypass the timer, the choke will come off normally, assuming the heater element is working.
What that timer really does is open the choke circuit, after about 3 minutes, depending on the ambient temp. Thus if the engine should stall, the choke will not drain your battery.So that's kindof nice. It also makes the alternators life easier.
Because the choke is disconnected so early, the rest of the warm-up system will need to be correctly functioning, or else drive-away will be adversely affected.
If your timer is stuck open, then the heater element in the choke-well will not receive any electrical power, and so the choke will be very slow to come off. Now the choke element has to wait for manifold heat to do the job, and that will be agonizingly slow.I've seen that take 10 minutes!
If you continue to drive this way you will carbon everything up, including the chambers, the plugs and the cross-over and into the exhaust. Your oil will become diluted with gas, and you could loose rod-bearings. You need to take care of this ASAP.