Mine is super-ghetto, but works like a charm! I just bought a cheap acrylic container from the kitchen section of Target ($5), sealed the lid on with silicone sealer, drilled a small hole in the lid and bought a rubber stopper from a chemistry store. Then I ran airline tubing from my intended water level back through the rubber stopper, and another line from the bottom of the container down into my sump.
When the water drops, air gets into the container letting water run out until the level raises up enough to stop letting air in.