I could be way off here....
The water level almost over the pipe looks like it does not drain fast enough, once the water level gets up so high the pipe actually may be acting like a siphon sucking the water out giving you that toilet effect then it empties and has to refill to the siphon point before it flushes again.
Do you have a gate valve on the return? if so you may be able to dial the flow down enough so that this doesn't happen, I think your overflow drain is to small for your return pump.
again this is just what popped in my head and I could be way off, if you dont get what Im referring to go to youtube and search "how to make a surge tank" and you will figure it out.
I always thought they worked best coming straight up with a T with a 90 back down then a open top for better silent airflow.