There are several things this could be. Those here who know me know that I "HATE" throwing money/ parts at a problem. But in this case I'd try a new voltage regulator pretty quickly
Some other ideas:
1....READ the MAD article. Even if you don't do the mod, this presents an overview of "what is wrong" with many of these girls
Catalog
2....Perform my (posted many times LOL) voltage drop test. You can have drop both in the ground circuit AND the ignition / supply circuit
A.....Ignition drop: With engine stopped, key in "run" position, hook multimeter to VR "ign" terminal, hook other terminal to battery POS terminal. You are expecting a very low reading, the lower the better. Anything over .3V (3/10 of one volt) go looking for trouble
B....Ground. Run this test with engine running fast, battery "normalized" and first with accessories off, and again with lights heater, etc on
Stab one probe into the mounting flange of the VR. Stab the other into the top of the battery NEG post. Again, you are hoping for a very low reading, zero is perfect