67 fried ammeter question
 

Hello, I was driving my 67 sb coupe and the ammeter would occasionally show a reading nearly to the full charge position and beyond. It then acted normally and I assumed the gauge was faulty or had a bad connection(dumb-I should have followed up!) The last time I drove it, the gauge went to full charge and beyond. Then my converted tach(to allow it to read an MSD), began to slowly move all the way to the right. I was attempting to return home when the amp gauge began to fill with smoke. I shut the car off and had it towed home. I replaced the voltage regulator and gauge and briefly turned it on-amp gauge began to move to right again so I shut it of. Didn't try to start car-although it was running fine when the problem occurred. I noticed a wire with a capacitor(?) dangling near the ammeter. I don't believe this was hooked up and probably had fallen off before the incident. Where does this attach? It looks like it should go to amp gauge based on length of wire and position. Could this have caused meltdown? Thanks.