88 grand prix acceleration problems

hi guys glad to be part of this form its very informative.
i just recieved an 88 grand prix and heres my problem,some times i start the car and it rev's very high and when i drive i have to keep a foot on the brake to slow it down but that only happens once in a while but more often it will pulse and stall if i come to a stop then i have to keep my foot on the gas to keep it from stalling also when that happens i get a gas/exhaust smell that almost makes me gag. any advice? i love the car and am trying to fix it up.