if you are talking about your 79 square in your 'data' my first idea wont work, but if you have a bad gear in the drive - yea that can cause bounce, BUT, it tends to eat itself on a permanent basis - quickly. Easy to check tho. PM if you want steps. If you had a 'head driven VSS' you can check pulses so see if the signal is interrupted, in fact, the ECM on those primitive systems will gripe about it. but a 79 wont have this.
Aside from that, non electric speedos work on a close clearance between a rotating drum and the inner 'cicrle', I have seen viscous fluid, magnets, static charge etc. I wont profess to know for sure what is inside yours but to tell you, a fluctuation when the driven pulse is constant is nearly ALWAYS (on the non-fluid ones) due to corrosion. rust or crud on one of the surfaces and to be honest, its not repairable. With a 79 square, you don't give a squat about your indicated mileage right? if it aint super low and you wanna prove it for a concours truck, just boneyard one and replace it. besides, dicking with the speedo and contained mileage indicator is illegal as all get out, but replacement is not.