It sounds like the alternator is going full field. It would have a high current output unless there is an internal problem. If you have a clamp on amp meter, put it on the heavy output wire and see how many amps are being drawn. You can use an in-line amp meter if you don't have a clamp type. This will help determine if the problem is in the alternator.
If the current is high check the output voltage at the alternator. If it's high, the problem is in the alternator or it's external sense and it's lost the signal. Most external sense alternators will default to internal sense if they lose the external signal. If it's a bad connection in the sense line then the alternator will increase the output voltage to compensate.