John; We have to narrow down what we are losing when it cuts out. Have you checked fuel pressure when this occurs? If fuel pressure and volume are ok and the injectors are not partialy blocked, I would concentrate on ignition. A bad coil would act as you describe. Have you hooked up a voltmeter to the O2 sensor and monitored the signal when it is cutting out?
Conner

Over the hill but still climbing.
88 Montero 2.6L auto, manual hubs, cooling fan conversion gps,recurved distributor,LSD Diff.