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2nd Gen Ram Tech1994-2001 Rams: This section is for TECHNICAL discussions only, that involve the 1994 through 2001 Rams. For any non-tech discussions, please direct your attention to the "General discussion/NON-tech" sub sections.
Anything is possible, should still have some warranty......
According to theory, the PCM wants signal from both cam, and crank sensors, in order to know which injector to fire when. Since you are getting spark, that implies the crank sensor is doing its job.... that leaves the cam sensor.....
If changing the sensor doesn't help.... could be a bad PCM.