Mechanical voltage regulator could be failing if your car has one. Need to verify the charging voltage and the condition of the battery. It (the alternator) should be out putting about 14.6 volts. The battery when disconnected from the car should hold about 12.8 volts for days without a problem.
It could be you are drawing more amperage than your alternator is putting out (most 1968 alternators were rated at only 38 Amps). If you have an electric fuel pump (about ten amps), electric fans (about 23 Amps), aftermarket A/C (about 25 Amps), and add to that a 200 Watt stereo which draws half the available amperage that a 38 Amp alternator can put out all by itself; Add them up and you see why it glows red.
Big Dave
It could be you are drawing more amperage than your alternator is putting out (most 1968 alternators were rated at only 38 Amps). If you have an electric fuel pump (about ten amps), electric fans (about 23 Amps), aftermarket A/C (about 25 Amps), and add to that a 200 Watt stereo which draws half the available amperage that a 38 Amp alternator can put out all by itself; Add them up and you see why it glows red.
Big Dave