Hey Bottlefedbuell,
I'm just learning about Buell's myself, and you may already have solved your problem, but I do know a bit about motors and it sounds to me as though you've got either an ecm or a fuel pump problem.
The fact that this happens at higher rpm points more to a fuel pump issue than an ecm issue. I would bet that the problem gets worse if you try to increase the rpm. The squealing noise also points to the fuel pump.
If the pump cuts in & out quickly you'll get the sudden engine braking effect followed by a sudden return of power as it cuts back in. The ecm probably contributes to the problem as it senses changes and tries to compensate for changes in mixture etc...
Hope you get it sorted OK
G