Try checking the breather hose on the carb. It might be plugged. Had same issue on my 1994 big bear. Had a chunk of mud in hose. After blowing it out it ran like new.
Sounds like fuel starvation. Something is restricting the fuel entering the carb. Some carbs have a screen on the carb's fuel inlet and it could be plugged or a pinched or otherwise restricted fuel line would be my guess. For whatever the fuel bowl isn't staying full under high demand.