oil pressure sensor plug

I am having a bit if an issue, the plug that goes into the oil lpressure sensor is messing up. The gray rubber plug that the wire feeds through is coming out due to the pressure being built up inside the plug...is there any way to fix this or would it be wise to cut and splice a new plug into it?

First off the plug that goes into the sending unit has female terminals in it, once you replace the sender just plug it back in. If there is something weird about yours post a pic of it, I just can't see there being anything wrong with the plug other than cracking or melting.