Is it carburated? The symptoms sound exactly like what used to happen to me when my accelerator pump went bad.
There is a rod connected to your linkage on the carb which is depressed when you push on the gas pedal, which causes a shot of gasoline to shoot into the throttle body of the carb. A return spring which slides over the rod is used to return the rod to it's original (undepressed) condition.
If the rod, or spring, or rubber (or leather) diaphram is worn, when you jam on the gas, it will partially work and then NOT, so you will jerk and then bogg down without more gas.
Check it!