First post on these forums. But i have a 92 ranger 5 speed with the big amd bad 2.3. I bought it a few months ago off a family friend. Its 2wd with 64k on it. It has been sitting for about 10 plus years being started every once and a while. I bought it instlled new battery, fuel pump, filter. Drained tank. And it ran okay for a few hundered miles. Now it will run great when its cold with the occasional pop at light throttle. But when it gets warm after a good run on the highway you go to take off from a light and at 3/4 to full throttle it will just fall on its face and pop miss backfire slightly ni matter what gear your in and just make you look like your teaching your wife how to.drive a stick for the first time. I just recently changed plugs amd they were pretty toast as i expected. Never did wires or coils. I dont have alot of money to throw at it at the moment. Also when it starts acting up the check engine light will flash on and off a bit. I never got the light checked or have done anything with it yet. I will work on checking for any codes this week.

 

Flashing CEL means misfire is occurring, this can damage Cat Converters so it Flashes.
Codes will tell you which cylinder(s) were misfiring.

I would hit a wrecking yard and pick up a couple of coils, Ford V8's used same dual coil setup.
Also the ICM(ignition control module) has been a problem as they get older.
It is located on the front of the intake manifold.

It can be tested, read here: Part 1 -How to Test the Ignition Module and Crank Sensor (2.3L Ranger, Mustang, B2300)

Some auto parts stores have testers for ICMs, they test it for free.

Most auto parts stores won't be able to read your OBD I(1) codes, they only have readers for OBD II(2) 1996 and up vehicles.
But you can read them yourself: Ford Ranger - Testing EEC-IV Equipped Engines

 

I will check the codes this weekend and see wherr that leads me. I will price some coils too.