Basically there are 3 connections on the back of the gauge, 1 is keyed +12 volts, 1 is ground, the other is signal wire from fuel sender. You can just run a seperate wire like you're talking and make sure you hook it to the correct termination on the back of the gauge. I don't know if GM changed the location over the years but I have a cluster in the garage that I believe came from a 75 truck I could look at and try to see if I can tell which termination is for the signal wire.
Ok, if you're holding the gauge in your hand looking at the backside of the gauge the terminal to the left is the signal wire from the sender, the terminal to the right is keyed +12 volts, and the last one is ground.