Dave: Where is the "lots of gas"? In the tank or actually going into the carbs?
Let's solve this in easy steps:
First, check for a good spark:
Remove the easiest spark plug to get at (usually at the rear).
Once it's out, put the plug wire back on it and lay the plug on something on the engine that is unpainted metal to make good electrical contact. It's better if it won't move around much for the next step.
Have someone try to start the engine, and while it is turning over check to see if there is a periodic spark at the electrode of that spark plug you've got removed (it's better if the plug is in the shade or there's no bright light on it). DO NOT TOUCH THE PLUG OR WIRE DURING THIS TEST! The engine will sound a bit funny as your friend is "cranking" it, that's because you've got one plug out - that's OK for now.
If you see a spark on that plug periodically, (like once each second or so), then your ignition is working OK, stop turning it over and you can check the fuel system. If you don't see any spark there, your ignition is sick and you'll have to decide whether to ask more questions here so we can help you, or toss in the towel and call your mechanic. Either way, put the plug back in and replace the plug wire.
Now let's check for fuel delivery: You need not crank the engine over to do this step.
If you have spark, then take off the air cleaner(s) and, while looking down into the opening of the carb(s) (you may need a mirror to see into the carb throat, here), slowly pump the gas pedal a few times. Each time you push the pedal down you should see a small stream of gas squirting into the bottom of the Carb throat. If you DO NOT see that stream, then your fuel pump is probably not working or you have a blockage in the fuel line (like a clogged fuel filter) and you'll have to go figure out what's going on. Same decision about us or your mechanic ensues - your choice.
OK, now, If you have a good spark, AND you see that stream of gas squirting in when you push the gas pedal down, then you've probably flooded the carb(s) really bad, and you can try one of two things:
1. Let it sit for a day or two and try starting it again, or
2. Push the gas pedal ALL THE WAY TO THE FLOOR AND HOLD IT THERE. While holding the pedal down, start cranking the engine over. DON'T LET THE PEDAL UP!! It may crank for quite a few seconds, but it should eventually clean itself out, cough and puke a few times, but it'll finally start and blow out a lot of blue/black smoke until it fully clears itself out and begins to run OK. This may take 30 - 60 seconds of cranking, puking, etc. Once it seems to start, then let the pedal off, but you may have to play with the pedal for a minute or so to keep it running.
Now comes the caveat emptor (Starter Beware): BOTH Jake Raby and Pat Downs (and a bunch of others on here) would probably say at this point, "Wait a minute!! If he's SUPER-flooded it and there's been gas running down into the exhaust system and into the mufflers then, when it finally tries to start, the muffler could EXPLODE and we don't want that!" (see, I try to think like them, too!) They are absolutely right, that is a possibility, especially when you don't know much about this process or the engine.
At that point, If you believe you have spark, and if you see gas squirting into the carbs and you don't feel comfortable proceeding from there for fear of fire in your car (and that's pretty prudent) then STOP! Call your mechanic and get his/her help. None of us want to hear that bad things happened, either.
Anyway, this process should eliminate either ignition or fuel delivery as a culprit, but it only gets you in the neighborhood of the ballpark. Do you have any motorhead friends who could come over to help you take a look? That might be a prudent first step.
gordon