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Maybe it is a pressure problem. Did you replace the power steering pump recently? C-3 Corvettes require a lower pressure flow control valve. It is recommended that you use the old control valve out of your old pump when replacing your existing pump with a new one. The whole system works off a lower pressure than other GM cars that use the same interchangeable Saginaw pump. A rebuilt or replacement pump could come with the higher pressure flow control valve that is wrong for the C-3s system.
I'm not sure if that would cause a new hose to leak so soon. Go to www.corvettefaq.com and take a look at the steering papers written by Jim Shea. That may help. Maybe he will see your post and jump in with some expert help.