If they're not connected, you'll have a massive vacuum leak through the base of the carb. Either hook it up as designed or cap off the port at the rear of the carb base.
That sensor either blocks or passes vacuum to the vacuum motor on the air cleaner snorkel based on the air temperature in the air cleaner; if it's cold, it causes the valve operated by the vacuum motor to admit only hot air through the tube to the muff on the exhaust manifold for improved cold driveability and emissions. If the air is hot (or if you're at WOT, thus producing no vacuum), it causes the vacuum motor to move the valve the other way and admit only engine compartment air to the air cleaner.