couple of things, could be too much or too little fuel, probably from something out of tune or worn. Try throwing it in neutral when it does that and rapping it up. Black smoke come out the exhaust? If so, too much fuel.
Your accelerator pump could be worn, supplying too little fuel. Do you have to pump the car a bunch of times to get it started? Generally too much gas will flood your motor causing bog, this is also an option. What kind of carb do you have, a Qjunk? jk, I actually like qjets.
Those year motors were notorius for having cam problems. Popping back through the carb is a possible sign of a bad cam. Is this the original equipment in this motor?
Vacuum leaks can cause the problems you're talking about. Get out your carb cleaner and check for that first.
Lastly, be sure your timing is good to go. Too much initial or worn springs that are advancing too quickly can also cause what you described. It really should have nothing to do with vacuum advance (I've found most people have no idea what vacuum advance does or how/when it works) given that if you're doing a WOT run, even off a stop, your vacuum should be 0. If its not, something is wrong.
Best of luck, hope that's helpful-