I just purchased a 1968 Cougar with a 302 and original Autolite 4300 model 4 barrel carburetor. The car is running great with the exception of a frequent flooding issue. Every so often, in no pattern, fuel will suddenly start pouring out the top of the accelerator pump valve area. It is a large volume of fuel, the car will flood and die. If I give it acceleration I can keep it running. Its almost like the pump is engaging without acceleration.

Has anyone experienced a similar issue in the past, and do you have a fix?

 

You have some kind of trash/obstacle getting under the float valve causing it to stay open and flood. I'd put a kit in the carb.