You don't want a vented gas cap, not on any of our cars, new or old. Because it'll leak gas and it will smell inside your garage.
The best course of action is to leave the vent line in place and terminate it either, into the valve cover breather, or the air cleaner housing or leave it open on top of the intake manifold. It won't smell up the garage like that. My vent line has been open for 5 years now up front on top of my engine and I have drove over 10K miles since then. I never got around to terminating it in my engine and was surprised I did not smell it. I think it's because the vent line is long.
If you try to vent it back by the tank it will leak out and smell especially with vented gas cap which is the totally wrong way to do it.
There's no other good way to vent the tank without having it smell up your garage or leak out during spirited driving. When it is up top of the engine like the factory did it then none can spill out like when the tank is full. I have a 74 and know all about tanks and venting.
Put the vent line BACK IN IF YOU WANT A SOLID CAR TO DRIVE. MY
Looks stupid but there is my gas tank vent line on my 74 with the rubber hose around it to keep it off the back of my alternator. That's the factory vent line, from there it goes to the charcoal canister. Would be easy to connect to the air filter housing, never have done it yet. This car ain't no show poodle, it has been driven hard and a lot. Everything works like it should.
I got drunk and forgot I left my hood open and went to bed. lol
No harm done, it fired up and warmed up and the snow melted. I drove the crap out of it this past year and every summer since 2003 when I got it out after a 18 year storage deal. The dist cap is off and full of snow just like the dist was full of snow. I blew it out and snapped
the cap back on with frozen ice in my dist and it fired and run lot's of milers this past summer.
5 minutes later, it started right up and is warming up in this picture.
My wife drives it too, she would not put up with gas smell.