Overcharging 68Dart...need some short fused help (pun intended:)

I'm still running a point distributor, and the VR stops smoking after the first two minutes, low or high RPM...not sure why it's smoking though. I suspect excess current, but not sure what would cause that....
Electronic ignition is in the future plans, but I'm just trying to make this system work for now.
Thanks again for your help man, much appreciated!
Corey