Overcharging
Well the '73 FSM shows the power to the inition switch as red.
Be real careful moving wires around under there with the battery hooked up.
Everything connected to the main splice is hot - all the time.
Accidently ground any of them and BIG sparky. If they touch good, the fusible link will go poof!
It's been years since I've had a column ignition switch car, but some guys here with early 70s cars have posted about finding bad connections there.
If you need to replace a terminal connector in that one (or the bulkhead) search for a thread I started on Chrysler connectors and terminals. That should help.