are you sure that you've got a good flow of fuel into the carb?
It could be a fuel issue, like the float bowl may be running out of gas and slowly re-filling.
either the fuel flowing out of the gas tank os restricted (junk in the petcock), you have a clogged fuel filter, or junk in the needle & seat on the carb.
I don;t think the new plug has anything to do with it, but you could put your old plug back in and see if it does the same thing.
If it does the same thing with the old plug, then it's probably a fuel issue.