I'm guessing the regulator is failing. I'd replace the alternator. Electrical components dont like heat, especially when they get old. Either that or the heat is causing physical movement (ie: expansion) and breaking contact. Seeing as the unit is integrated, the alternator gets replaced as a unit. If this is the original alternator it has served well.
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This is a rebuilt alternator from copperstate alternators (https://phoenix-alternator.com/MPartDetails.aspx?IDNum=51034) and it's only 6 months old. (2007 MS3 $140.11 alternator)
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