Hi Manny. I've been professionally involved with HVAC for 36 years, am ASE certified, a member of Society of Automotive Engineers, and a contributor to several trade magazines. I was involved with field testing of various conversion techniques back when R134a was only a gleam in DuPont's eye. Just background so you know that I know what I know.
There are two kinds of leaks that are difficult to find, very small leaks and very big leaks. You have a very big leak. A sniffer will go nuts everywhere under the hood even if you set it to the lowest sensitivity. I suggest you try an old, and cheap, trick.
You don't want to be blowing off any excess R12 into the atmosphere, it's expensive if not hazardous to the ozone. You absolutely MUST change your receiver/drier after a leak of this size is repaired so what I'm going to tell you to do won't hurt anything.
Get an airgun with a rubber tip. Using compressed air, place the airgun against the high or low side fitting and pull the trigger. Even with the Schraeder valve in place you should be able to inject air into the fitting. Use a soapy solution and spray all your fittings, lines and components (condenser, compressor, the drier -they rust through at the bottom!, etc). You should see major bubbling somewhere. If not, remove panels to access the expansion valve and evap, repeat.
A few notes. First, the Schraeder valve is identical to one in a car or bicycle tire so it can be removed if you cannot inject air past it. They are a one way valve, they keep a gas inside, but allow it to pass from the outside to the inside.
Second, use 100 psi or so, you absolutely will not hurt anything in the system. Third, change every O-ring you remove, don't re-use them. I have tens of thousands of O-rings of every AC size ever made and can match them up for you if you can't get them locally. Use the green O-rings, not black, and you will be all set for R-134a. Green is good for either R12 or 134a.
Third, No matter what you might have heard, your hoses ARE compatible with R134a. At first we thought that wasn't the case because the R134a molecule is smaller and needed "barrier hose". But what we found is that hoses which had been used with R12 had all their 'spaces' sealed with R12 compressor oil molecules. They had been made impermeable.
Fourth, Theoretically R134a runs at higher pressures. Guess what? Not in your car, you've got an R12 compressor and it can only compress to a point. It is true that R134 operates at higher pressures, but these pressures are not hazardous to your system.
Fifth, When you convert to R134a use 85-90% of the R12 charge. So, for example, if your system uses 2.2 lbs (1KG) of R12, you will charge to a 2 lb. max. with R134a.
Sixth. Everyone knows Freon, right? No one knows that the name of R134a is Klea, but now you do.
Edit.. You still have R12??? Are you sure it isn't FR-12? I sold the last pound of R12 East of the Mississippi ten years ago. I was getting $60 a pound the last year, or $900 a 30 lb. cylinder. There was a lot of Chinese product around but I wouldn't touch it, much of it was contaminated or counterfeit or just plain dangerous stuff like Propane.