I removed the lock from the fuel cap, then threaded the hole with a 1/8 NPT tap. Mixed up a small amount of JB Weld and coated the threads of a 1/8 NPT X 1/4 compression fitting and inserted the fitting into the threaded lock hole. I cut and bent a 1/4 OD brass tube into a U shape. I drilled a small 1/16 hole on the bottom side of the bend...this just in case the main hole ever became plugged. I angled the front of the vent tube 45*, this creates a low pressure area at the tip and will aid in shedding rain. Worked out perfectly.
I did this mod because the current vent system leaks fuel very easily and I plugged that vent system up when I installed the fuel sender. This idea came from Jon Croke at Homebuilt Help...great solution.