LOL Larry, it's a nice car but I'd hate to see you sent up the river.
The canister is an accumulator. It holds 3 quarts of oil and is basically a cylinder with a piston. I start out by putting about 80psi of air in the gauge end and then bleed it off to 6psi. Once the engine is running it forces the piston all the way back to the gauge and if the engine loses oil pressure due to high g's the accumulator can supply up to 5 seconds of oil directly into the oil galleys. That's what the one way valve is for.(Causing my drip) I can also prime the engine by closing the valve with it running and opening it before the next start. It's probably over kill but it's to late now.