brake Light On ?

I have a 68 Barracuda Formula S with power front disk brakes. The manual states that the safty switch in the metering block displays the red brake light on the dash and that the brake system has a problem. I don't know if this is a proportioning valve or distribution block. Just states a terminal unit with a safty switch.

The system has been bleed and feels good and then the pedal goes to the floor board when driving. Also brake fluid has been seeping out of the master cylinder cap when pressure is applied.

I've got a problem, could use some help. I've call the local auto parts shops and of course the only porp. vavle is a universal unit. Any help in locating the proper valve would be appreciated.

Thanks Chris
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