Hi Tom,
Congratulations on your purchase! I hope that changing the sender for an appropriate unit will at least give you a consistent and reliable reading, even if the absolute values need to be measured using an external gauge. If problems persist, in the long-term it may also be necessary to clean the contacts between the oil pressure gauge and the printed-circuit board that it is mounted on. That's not a job for the faint-hearted or your first Lancia experience, but one which was recently described on this Forum by Norm Thomas in his 'Slow Rebuild' thread and might be tackled by your sellers.
Norm and I are currently working on an Owners Guide that will incorporate some of his material but it may help you now to have a draft (& unchecked!) version of the relevant section. Being Christmas, Norm and I have downed tools until New Year, so we will not make more progress until then.
Best wishes,
Glyn