This is the only fix I know of. You'll have to disassemble the main body and send it to Greg. http://quadrajetparts.com/rochester...oil-installation-inlet-carburetors-p-356.html
You're lucky it didn't light off and burn the whole works down. Sounds like you bought one of those lovely "quick-fixes"...a car put together enough to clear the driveway and not much else; at least you now have the chance to do it all right. Gotta love those guys who say "all it needs is a bit of a tune up"...yeah, right; if that the case why didn't you do it? Start over by pulling everything out and rewiring the whole engine side; looks daunting but it actually isn't.