Any ideas what how to troubleshoot?
I made a high-tech troubleshooting device for such stuff. It's a piece of half-inch plywood about three inches by ten, with several screws in it, lined up left to right. Long wires (like ten feet long) are soldered to those screws. One wire goes to a good ground. Another goes to the alternator field terminal. A third goes to the regulator field terminal. Fourth to the battery positive. You sit in the pilot's seat with it in your lap and take measurements using an analog voltmeter.
The battery voltage should remain solidly stable, except maybe for a small drop at low idle with lots of lights on. If it flickers there's a problem that can be found by measuring the voltages at the other screws. The field voltage should rise at low RPM and fall as the RPM rises. If it flickers any time, it's either a bad regulator (as noted at the regulator terminal) or bad wiring between the regulator terminal and alternator terminal (flickering at the alternator).
A picture of the regulator would help. If it looks like this......
......it's an old electromechanical type, and uses a relay that buzzes constantly to regulate field current flow. The relay contacts get burned and rough and can stick briefly, overvolting the system a little and making the ammeter jumpy. The overvolt condition isn't big enough to make the overvolt sensor shut the regulator off.
And like others have said, loose or dirty or oily or corroded crimp connections are a common source of trouble. Everything in that system need a close look, including at the back of the ammeter. Everything. Alternator switch and breaker and their bus connections, alternator output breaker, everything. Looking is cheap; replacing stuff until the problem goes away is NOT cheap.