You have it, the needle is not seating.
This is due to either debris in the seat, worn needle/seat, improper float setting, float no longer floating
What motor are we taking about here.
Well, if the needle isnt "seating" properly, then yes you can get fuel out of the vent hole. If it is seating properly, it will never get to it.
That being said, you dont want to squeeze the stuffing out of that primer bulb, lol. A few light squeezes until you feel the needle seat is all that is required.
So if i need to prevent this flooding should i bend the float tab so that the float is no longer parallel to the gasket, and actually a little outwards?
It should seal with the float at the specified height. The first thing I'd try is to take the bowl off the carb and hold the float up while you squeeze the bulb. If any gas dribbles down your finger then no float adjustment will make it seal. The needle or seat might have some dirt that's preventing it from sealing. Soak for a couple of days in lacquer thinner and carefully clean it out with a toothpick and inspect for damage; someone might have tried to unplug it with a piece of wire and damaged it. Also make sure you have the float right side up, it's easy to put in upside down (trust me on that).