um, I think calvindo is right, but just typed wrong. If you can adjust the water flow from the sump in to the tank, reduce it a bit. This will slow the water flow into the overflow, which will slow the flow though the bulkhead into the sump.
What's happening is that water is flowing too fast out of the overflow, and air can't escape the downpipe. Have you ever poured soda too fast and had it "glup" out, rather than flow smoothly out of the bottle? The same thing is happening, only reverse. With the soda bottle, air can't flow into the bottle to replace the soda as fast as the soda is leaving the bottle. With your overflow, air can't escape the downpipe fast enough to keep up with the water that is forcing the air out in the first place.
Does that make any sense?
I'm going to attach a couple of pics of the straw thing I mentioned in my first post.
Straw: