The regulator goes "bye-bye". You'll need to splice the 2 wires connected to the "B" or "BAT" terminal on the regulator together or your horns will quit working. Just snip off the terminal ends, strip back, splice, solder and shrink wrap.
Next, remove the wire from the "F" or "FLD" terminal and snip off the terminal end and loop back and shrink wrap so the end is insulated.
Now, remove the 2 wires from the "A" or "ARM" terminal on the regulator, snip the terminal end off the heavy gauge wire, loop it and shrink wrap. The small gauge YEL/BLK wire needs to be extended, with a proper splice, and connected to the #2 terminal on your new alternator.
At the starter solenoid, the heavy gauge YEL/BLK wire gets disconnected, looped and shrink wrapped.
At the alternator, the wire connected to the "F" or "FLD" terminal, typically WHITE, get's snipped, looped and shrink wrapped. The wire connected to "G" or "GND", typically BLACK, gets connected to the new alternator chassis....there's usually a ground post.
Lastly, you'll need to make up a new alternator output cable, I recommend RED multi-strand primary wire in 8AWG with ring terminals on each end, one to attach to the alternator "B" or "BAT" terminal and the other end to the starter solenoid battery-side terminal. IIRC, you'll need a 1/4" ring for the alternator and a 5/16" ring for the solenoid...or maybe it's 3/8". "Old Timers" disease again.
Yank the old regulator.... the space now freed up will make a nice place for a Chrome Chrysler Ignition Box if you ever decide to convert to electronic ignition. LOL.