Please tell us how many wires come out of your distributor.

 

There are 10... 8 go to the engine 1 goes to the coil, 1 ground wire goes to the coil negative side and one vacuum tube

 

Ok... So i replaced the capacitor for the points, there is also an external capacitor. The exterior connects to the POSITVE side of the coil and the one inside the distributor connects to the negative side of the coil. I replaced both.

Then I adjusted the idle on the carb a bit higher than before. I ran weird because of the high idle.... same thing. Still cuttiing out

 

This may be of no use but i had the same problem on my 88 mind you its tbi, but what was happening was that the small fuel line from the steel to the throttle body (about 6 inches long) was rigid when it was cold but got more flexible when it got hot and would kink where it cornered into the throttle body and cut off my fuel and the truck would die. let it cool and it would run again. had me stumped for a month then i noticed it one day and put a different hose on with a steel core and its perfect now.