There is a TFI (Thick Film Ignition Module) That go bad on Ford vehicle's from the Eighties. My old 88 bird had one it was mounted in a heat sink in front of the Radiator. Gray in color most of the time. Replacement one sometimes are Black. Try to replace that. Link below with picture.
Is is a 2.3l? If it is, they have a problem with the distributor shaft moving too much and it doesnt send the right signal, therefore no start. My 88TC had the same problem every once in a while. She had about 187K on the motor. You could actually move the distributor side to side when you grabbed it.