From all the research I've done (I've never tried it) the K&N filter pods caused more problems than they're worth. Don't try and pump more HP out of this bike, just enjoy it for what it is... once you get it running right you'll be more than happy with the results, trust me. This bike has plenty of power!
I'd just strip your carbs and clean them really good as suggested, you probably need new float needle valves, that's what shuts the fuel off when the float gets high enough, unless your floats are seriously messed up, but you won't know until you crack open the carbs... Strip the carbs, post pics if you need, and go from there!
PS, if you're using carb cleaner, use it in a WELL VENTILATED space!