That could be an issue with the TCI ignitor box. You need to figure out if fuel or spark is your problem.
take the air cleaners off, put your hand over the carb mouth and crank it. if you keep getting soaked with gas it's not a fuel issue. Might want to go through the carbs and double-double check that they're not the problem. If you have some carb cleaner handy, spray some around where the throttle shafts go through the carb bodies. those seals can go bad (and probably have). Make sure you get a good solid prime with the vacuum petcock if you're still running that damn thing...
Check the electrical connections going into the coil, too.. a little bit of contact cleaner could be your friend, but if it's firing that's probably a very secondary concern.
If it turns out to be the TCI box, they can be rebuilt pretty easily. there's a thread about that somewhere.
