I haven't experienced a bad sending unit yet, but what about a hole or split in the pickup tube? That could also draw air, which could collect in the highest point of the system, which would be the enlarged area of the filter.
Another temporary solution...remove the inline filter and the problem should go away, as the air won't collect and will be pumped right into the fuel bowl, where it will vent.
Vikki 1969 Goldenrod Yellow / black 400 convertible numbers matching