I handled this problem in my car last week. Look at the back of your voltmeter and see if the nuts holding the wires are loose - if they are, tighten them up. This fixed the flickering for me.
As for the voltage regulator, I suggest upgrading to the solid state one (there's a few threads on here about them)
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461ci, Edelbrock 72cc heads, KB 15cc dished pistons, comp xe274, PRW 1.5 roller rockers, Performer RPM intake, Holley 80508 750cfm, RARE oversized manifolds, Pypes X-pipe Exhaust
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