Voltage regulator problem with 1968 Dart

MrBelvedere2 said
What key position when you measured this? When the key is in ACC position

So there was power available in the RUN circuit (ign 1) with the key in Accessory position.
There shouldn't be.
My suggestion is to disconnect the battery and do continuity checks rather than measuring voltage.

MrBelvedere2 said
The fuse blows the second the kill switch gets turned on and providing power to car

Normally that would be a short in the wiring. Either the cigar lighter or the dome light feed wire is touching ground.
Disconnect the battery. Measure for continuity between the fuse terminal and the body ground.

MrBelvedere2 said
MSD Ready to run distributor with no box, MSD Blaster2 coil wired per MSD directions

Doesn't help us much. Where does the RTR distributor connect?
Where it was connected may or may not relate to the VR letting out smoke.
But start here, whith what 67Dart273 has suggested a couple times. Its the right place to start looking.

67Dart273 said
I tell you again. Check the field to alternator case for resistance, check the green wire for shorts, and check the VR for being grounded.