really can't help you too much. There's not like any sort of common pop sound associated with rangers that I know of.
Your pads shouldn't really smell anymore they should be bedded in by now.. if they do then you probably have a frozen/stuck caliper piston or slides.... There is really not much more that can go wrong down there.
Now that im thinking.. maybe your caliper was froze up and when you got on the brakes hard it broke free, causing the POP. the pad finally bedded in after that causing the smell.
...what do I know.
Toreador Red 05' FX4
4.0 4x4 A/Tran Ext.Cab Daily Driver. Nomads, BFG M/T's
Alpine 9857, JBL MS-8 DSP, US Acoustics 2x80w & 2x100w, Vifa 1" XT25 Dual Ring Radiator Tweeters 3k+ 24db slope, Dayton Audio 7" RS180-4 Mid-woofers 100Hz-3k 24db slope, 500w rms Kenwood Class-D Mono - JBL 10" GTO1014 Sealed. 100Hz- 12db slope