Record contributions of $38.6 million rolled in last year to the campaign war chests of the 27 senators seeking reelection in 1988. Common Cause, the citizens lobby that is pushing for campaign spending limits, said the 27 incumbents raised $38.6 million last year, nearly $12.2 million from political action committees. Sen. Pete Wilson (R-Calif.), seeking a second term this year, was the leading money raiser, collecting $6.65 million from all sources since the start of 1983. Sen. Lloyd Bentsen (D-Tex.) was second in total receipts with $5.83 million, but he was the biggest beneficiary of PAC money, collecting $1.55 million from those sources since the start of 1983. Wilson ran second in PAC contributions, picking up $1.13 million.