Blue Field Wire Meltdown?

All the small parts are cheap.
Even with shipping.

Alternator repair, a little show and tell.

Replacing the wire is going to cost time.
Don't cheap out on the wire or the crimps.
On a '74 it probably has branches to the choke assist and maybe some other carb related devices. So it will need inline splices.

Inline wiring splice clips........from the Dodge RAM service manual