Alternator gauge is smoking

All Amp meters have a shunt (a bypass resistor) across the meter to carry the high current around the meter movement. It sounds like the meter shunt is damaged. The shunt may be internal to the meter. Can you try using the old meter to see if the problem clears up?
Mopar ammeters have no such thing. --That is, the ones we are discussing, the "full current" ammeters and not the "external shunt" type.--- If you ever disassemble one, you'll see. The entire "meter" consists of the brass piece which "is the shunt" and the needle assembly which sits adjacent to it with a vane device. What CAN happen is the studs can become loose as I've previously described.