What is this part?

I didn’t have any repair manuals come up in that section of the website so I thought I’d ask here. I turned on the key to our ‘79 and gas started spraying out of this part in the fuel line. I turned off the key and took a look at the part. The fuel supply passes through this small thing just before the carb. The part says that it is some sort of flow sensor or something. Does anyone have information on its purpose or level of importance or know where I might find a new one? Thanks in advance for any information!