I fixed it with the help of M1Tanker! Well, at least my hanging/jumping RPM problem between shifts. Also, my idle seems to be a little smother. My car is a 94 GT 5.0, but the concept is the same for most other years.
Here's what I did: I took the old gasket and traced it out with pen on gasket paper, then cut the perimeter with scissors. I used a piece of cut off brake line, a hammer, and a piece of bar stock to make the holes for the bolts to go through. Lay the gasket paper over the bar stock and use the hammer and brake line to punch out the holes. For the other two holes (the air in and air out) I used two different size sockets, a hammer, and the piece of bar stock. Make sure to clean off all the debris from the hole to make them as clean as possible. The hole on the air cleaner side I made the original size (5/8" in my case), and the hole on the engine side I made close to 5/16". My first trial I used a 1/4" hole for the engine side but I think the RPM dropped too much between shifts.
I think if I had to do it again I would make two identical gaskets, stick them together with gasket maker, and use them together for added strength. My logic for that is almost all the air the engine gets while engine braking is through the IAC ports. I don't know if it is necessary but I am going to check the gasket on there now in about 200 miles to see if it is torn.
In total, it cost $5 in Fel-pro gasket paper from Advance Auto Parts and 1/2 hour.
To answer a possible question that may come up: My idle speed decreased about 75 RPM. This doesn't bother me, but at least with the 94-95 throttle bodies, you can adjust the idle with the allen-head set screw on the top right of the throttle body (most of the time it's under the rubber cap). All you do is adjust the screw and rev it a few times, then the engine will settle down to the new idle speed. I don't think you can do this with the Fox bodies, and yes, I do have a factory throttle body.
I hope that helps and I will post any further updates.