Alternator help with 92 foxbody 2.3L Vert.

I did an engine change on a 92 Mustang LX. In and out with a 2.3 motor. After all fluids were filled and starting up the car, everything worked fine until the third or 4th start. ON that start, the alternator was glowing bright red inside of it like it was on fire. Turned the car off and all looked fine and I had another alternator from the old motor anyway to switch out. Changed that and started the car. Everything seems to be working fine except that the battery light is now on the dash constant.

With reading some other forums and posts here, I have checked all the following:
-Battery with the car off is 12 volts
-Battery with the car on is between 14 and 15 volts.
-Charger output at the orange/black wire is 12 V
-Regulator feed wire Yellow/White is 12V
-Inside the D plug Green/red wire is 12V
-Connected D plug, back side of the green/red is 2-3 V

Lastly, with the car running I probed the back of the green/red wire and the forum said that it should be .25-1V lower than what the battery was reading, well my battery is reading 14V and the back of the green/red is still between 2-3V. The thread does not say what is bad if this is the case. I changed out the regulator but this did not fix the problem. Any help would be great. Thanks in advance.
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