If you've looked over for visual damage (loose connections, melted wires, etc) and eliminated meachnaicals such the belt slipping as a possibility, then I'm going to suggest doing diagnostics by putting loads through the circuits. One more mechanical check. See if the alternator output stud is loose.
Begin with a charged battery. (Write down the voltage.)
A. Check for damaged wire or connection. (this all assumes factory wiring)
1. From Battery to Main splice.
a. Turn on the parking lights. Read the current discharging through the ammeter. Measure the voltage: across the battery, from the battery positive to ground, from alternator output (Batt terminal) to ground. Direct check by measuring voltage from battery positive (meter's red lead) to alternator output stud (meter's black lead).
b. Increase the load. Turn on the headlights and repeat the measurements. Ammter should show about 10-12 amps. And if the voltage differerece between the battery positive and the battery connection on the alternator is zero, or close to zero that's good.
Next. Knowing the line from the battery to the mainsplice is good, we can move on.
2 Circuit considtion from mainsplice through key switch to regulator.
a. Write down Battery Voltage. Recharge if needed.
b. Turn key to run. don't start the engine. Check the ammeter. it should show about 5 amps discharge.
Measure voltage: across the battery, battery to ground, at ignition terminal on voltage regulator.
If voltage at the regulator is less than at battery, then measure voltage difference from battery positive to: ignition terminal on regulator, then to the ignition wires connection at ballast resistor (pair of blue wires). Some voltage drop is expected but it should be small.
The reason for direct voltage drop measurements between the power source and points in the current flow is twofold. One is to isolate losses in the wiring from losses in grounding. The other is to take advantage of the finer scale on older meters. Otherwise measuring to chassis ground is OK too.
If all that is good. Then its time to check the votlage regulation circuit and alternator.
A couple different routes that can be taken.
One is to examine the regulator and alternator.
The other is to live test.
If live testing, charge the battery, measure voltage, start the car and observe the ammeter and voltmeter.
Do the same voltage drop testing as with the engine off except know that the ammeter is only showing battery charging.
The difference is now the alternator is supplying system power. Both the ignition circuit (J2) and the battery line should be at alternator voltage. While the battery is getting recharged, the current flow will split at the main splice. It might half way to charge at first, but after a few minutes it should be zero.
The live test is looking for a fault in the alternator output line, or the regulator and alternator.
The regulator responds to the voltage at its ignition terminal.