I'd vent the pumpkin housing -- vent installed HIGH -- and NOT on the gear side as they'll sling oil at it.
It will also need to be large enough in diameter that it doesn't push oil in the tube and then trying to vent the gas - it pushes the oil up the tube. Had that issue on my '32
A race track doesn't want ANY grease or fluids on the track whatsoever -- so everything MUST be vented to a catch can with some kind of breather/retention... including valve covers etc.
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