Can someone help? I need to drive my dart tomorrow

Well, the field wire is now getting zero volts on the ALT and the VR. Like I said it seemed to be working then it smoked and hasn’t worked since. With the key off, the contacts on the VR stay open. As soon as the VR receives power with the key on, the contacts close. With the key on if I manually open the contacts, the field wire gets 12 volts

Thought this was almost fixed, starting to get frustrated
Engine running or not?
You can replace with a solid state unit replacement as 67Dart273 mentioned - go back to BillGrissom's post about finding a good replacement. I use Standard's VR 128 which doesn't have the same housing but is pretty reliable.

As far as zero volts on the field wire, that's kindof how it works, it grounds out in the lower position. But I *think* if it was working correctly it should have been a higher than than zero because of the resistor.
Two ways you can further verify if its actually broken. One is to examine it; for broken wires, damaged points and resistance/continuity. If the fusible wire to the grounding resistor is burned, its done.

If everything is intact with no obvious damage, then you could test it..
Have the engine running at 1250 rpm and put load (headlights & fan) on it. The contact arm should then switch to the middle and upper positions.
If it works, then adjust the tension from spring and gap to the correct voltage.
The lower contact and middle will be used when there is little power being used and higher rpm. Turn the lights off and bring the engine to 2200 rpm.

Voltage specs for the VR vary a little with temperature. The specs for the mechanical regulator are 13.5 Volts and 14.5 Volts (at 70 deg F ).

Sounds like good detective work on the red hot. Lets get the other two figured out.. If you think you know where the other end goes but can't see the middle, disconnect the battery and use the meter for a continity test.