That happened to me once.  Each time I would go over a bump,the  volt guage either went down, or up. When it went down to 10 or lower, i would purposefully hit a bump to jog it again. 
When I had time, i looked at the alterntor.  The red positive wire that is connected to the bolt-type connecter on back of alternator was loose. It was such a way where I couldn't tighten it up.  It just spun loosely inside the alternator. 
Went to the slavage yard, got a $10 alternator, and was back in business. 
Moral: check you connections everywhere.  I am no alt. expert, but it could also be inside the alt.  the diodes and stuff. May have to get a new one.  
SgtDel
aka "Andy"
www.delbridge.net
1979 Big 10 383 stroker
1991 Blu 'Burb 3/4 ton 4x4
Edited by: SgtDel  
 at: 3/28/07 5:54 am