There was a group of guys who did this a few years back. They took a 2.3 Mustang and kept throwing more and more Nitrous at it to see how much it could take (intentionally trying to blow it up). They started at like a 50 Shot if memory is right. They progressively worked themselves up to a 200 Shot before they ran out of Nitrous. The engine was still kicking after that run. Though it was left on its last leg and was not driveable afterwords. The motor did not "grenade" however.
The old Iron block, Iron head 2.3 Lima's are one of the toughest 4 cylinders built. The stock cranks can take up to 700HP. The blocks are good for that and more. The turbo'd 2.3's have a bottom end that are able to take 5XX HP.
Figure out how much fuel you'll need, and throw a 200 shot at it.
It's all in the tune though. DeathbyPSI (other ranger sites) was running a 75 shot through his 2.3T and clicking off 12.XX second pass's. He did eventually blow a rod out the side of his block and pan. This was after MANY many track and street races though.
1994 2.3 XLT Turbo
Ranger Roller cam 2*R, T3, Gillis @ 20psi, 3in downpipe dynomax ultraflow, no cat, Large NPR, Turbo XS RFL BOV, LA2, Bob's big log header, Gutted/Rotated upper, Knifed lower, 65mm TB
'96 Expo 8.8, LS, Disk Brakes
245/45/17, Chrome SALEEN's
Getting over hauled!