This has all been said already but you asked:
If you put all wires on one side of the ammeter, nothing passes thru the ammeter. So it's just like splicing them together or attaching them to a terminal block which does the same thing. It would not matter which terminal of the ammeter you connected ALL of the wires to. You are just using the stud as a common connection point.
This makes no sense "I would like to bypass the ammeter if it still functions as an ammeter." bypass means: NOT USE.
If you hook up an ammeter like it's supposed be hooked up, needle should pop to near the middle when key is on. If you start the motor it should be around middle or charging. If you turn on headlights, it should go towards discharge and recover in time to middle/charge side.
If it pegs like you said in your first post, lots of things can be bad including the battery and/or miswired. This gauge can melt a lot of wires and connector shells.
Using the ammeter as a junction block is not the best way to bypass it. The only gauge I ever look at is the gas gauge. I prefer dash warning light for charging. I will notice that before a gauge.
Good luck.
