Temp sensor is an issue with alotta stuff in this case. also, check your egr.. early to late 90's, GM had an issue with EGR clogging up n sticking open. caused alot of isues on the 4.3 motors. and by alot, i mean I've taken apart over 200 GM's and cleaned the EGR and re-installed them having solved the problem that no one had tried.
Should u take it apart only to find a hung-up EGR, typically throttle body cleaner will take care of the problem. free it up, and clean it up. Then...to prevent this from happening again, cuz it will, when you go to replace the gasket, either 1. buy the gasket with the screen on it OR 2. super glue a "kitchen Sink spigot screen" over the hole...thus preventing shmegg from gettin into the valve.
One way to TRY and see if it IS INFACT your wires, which, i wouldnt doubt one bit, is to take a bottle of water in a spray bottle, and wait till dark. Then open your hood, turn out all lights, and spray down your wires with water.. see if you can see any arking. Under a hard load, spark will take the quickest, easiest path out.. and in all honesty dood..prolly wouldnt hurt to change plugs n wires..yes..its a Mo-Fo..i know. lol
Just be glad it aint newer..cuz the 2000 and newer ones are soooooooo horrible to change..dist cap is behind the water pump...thats right, in between block and water pump..typically that style one starts to miss about the same time the water pump takes a dump! lol
anyhow, give it a shot..let us know!