Severe overcharging from my 72

This issue has been addressed a number of times before, so You're not alone. 67Dart273 has posted the wiring diagrams a number of times, get that first, then check
the voltage working Your way from the feed through the bulkhead at the connections in & out of the ign etc. looking for a drop. Back out through the bulkhead and on.
Sometimes I have to use a headlamp with leads and a probe, it should lite bright the whole way from one end of the system to the other, it's a good "load fail" indicator.
It's easy to light a tiny test lamp/led, and to that end You would really go right to the regulator first and check the blue wire key in "run", bright headlamp and good V
(within .4 of V at the Batt) then the problem lies elsewhere. If You've got points, unplug the dizzy so 'Ya don't burn 'em up while testing.....................................
So the voltage spikes when the regulator IS grounded. When it isn’t the voltage is low (maybe that cuts off the charging from the alternator).