I've got a 70SS/malibu that has a 350 4bbl 750 holley carb, just for background. It seems to need about a quart every 750 miles, and I can't find any leaks and since I'm pretty new to this car game (only 18) I don't really know where to start checkin on how it might be burning oil. Also when it does get low my oil gauge gets pretty sporatic and I'm not sure why? I thought low oil would just read at a lower pressure, but it goes anywhere from 0psi to 50psi and does a good job of freakin me out. Any tips or suggestions?

First DON'T let it get that low, when you lose pressure you are causing undue wear to your engine.

Things to look for....
Does the the car smoke any? If so, when? On acceleration or when slowing down? Does it puff smoke only at startup? Look for leaks behind the balancer and flywheel or flex plate. Also check aound the ends of the intake. Is your pvc valve working properly?

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67 396
SS clone

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When your oil gets that low, you're pump is pulling oil from the pan faster than it can drain back so it's sucking air.
The first thing to do is a compression check. Look up the specs for your engine. If compression is low on any cylinder, squirt about a teaspoon of oil in the cylinder and check it again. If compression returns, you have bad rings on that cylinder. If it doesn't, you have a bad valve, head gasket, cracked or warped block/head, etc.
If compression is ok on all cylinders, the first thing to replace is the valve guide seals. If that doesn't fix it, then a head overhaul is in order.

Popbirch... considering the range of oil pressure you are showing , don't rely on the gauge to tell you that you are low on oil ... Begin checking oil a bit more frequently ... If you are running 30 wt oil,
you can go to 40 wt or 50 wt ... That may help some ... Another good place to check for leaks is on the ground, particuluarly after the car has sat overnight ... You can also pull plugs and check for oil fouling ... If using mechanical gauge, check tubing where line connects to engine...if electrical gauge, still check oil pressure switch / sending unit ...