Electrical help needed

64 Barracuda, electronic MP kit, later model voltage regualtor and2 field alternator.
, only 5V to posative side of coil. ...

I would highly recommend you check/ go through the entire path from battery--bulkhead connector--ignition switch--to ballast etc

HERE IS the thing. Assuming everything is as it should be there are TWO sources of power to the coil.....

1....In "run" the key feeds power to the ballast which goes to the coil.
2....But in "start" the "RUN" circuit goes DEAD. The only power to the coil is the brown bypass "IGN2" wire. This is hot "in start" but is not the same as the "start wire" The start and the IGN2 are separate switch sections in the switch.

What this means is that if EITHER of these circuits has a problem here's what will happen

1...If the "run" circuit goes dead/ poor/ low/ bad / etc, the car will likely not get enough power to the coi to run, and will not start if you try by jumpering the start relay

2...If the IGN2 "bypass" circuit goes bad, the engine will not fire in "start" but might/ probably start if you jumper the start relay, key in "run."

============================

Also if some bad connection or defective ignition switch is not providing full power, and you "do" accidently get the car to run, it is likely the thing will OVERCHARGE the battery as the VR will be getting LOW voltage and will attempt to "ramp up" charging voltage to compensate.

You have a shop manual/ wiring diagram? First thing "if not" is to wander over to MyMopar. Download them free