yeah, check the sender for shorts and such, or if a mech gauge for kinks or other damage.
if it's an internal problem all i can think of is a cavitating pump that isn't working right at high rpms, but at low speeds it's ok. possibly the pump shaft? buy or borrow an oil pressure tester and check it with that. if you have the same results, i'd probably do the oil pump.
first though, (sorry, just thought of this) how old is your oil? if it's old, do a full oil change.