The car also has a DVG WEBER CONVERSION not sure if that might be the cause.
It sounds like you have a vacuum leak. Is there a rubber cap on that
Weber? Something like that missing or loose. The popping sound is backfiring through the vacuum leak. It must be of ample proportions.
Could also be bad plugs or wires, misadjusted choke? #1.
If the engine is reeving high than it is clutch slipping .If engine sounds "normal" it might be that some spark plug is not working properly ,or it is simply an old car with lots of miles on engine and it lost compression .
timing belt or chain skipped