Carb issues....and a rough DAY!!!!

Well let me start this out with the beggining of my day. Summer and I were on our way to the skills center to see about dropping off the pickup to get fixed for the trade, when the brakes went out on me in the 64...pedal went straight to the floor. I am glas we werent going fast or on the Bahn, I used the hand brake to limp it home. All is good there, I found out that the adjuster screw had come off ans the wheel cyl popped out a bit, but I got it all fixed, thank god.

Now for, the carb issue...

When I took the car down the road to test the brakes out, on the way back the car started to run funny, I had to step on the gas to keep it running. I got her in the garage and shut her down. I heard a gurgling sound from under the hood and looked around. The sound was coming from the carb, and I could see white smoke looking fuel vapors coming form the carb, I opened it up by moving the throttle by hand and the sound went away but more vapors came out....

I have never seen this before....WTF is it? is this vaporlock? could the POS edelbrock carb be screwing up? I am lost on this.