Actually, stackz has it backwards
He is correct in his statement that the factory ranger computer uses the DPI lead to temporarily ground the secondary (drivers side) ignition coil during cranking. But grounding (to the computer's ignition ground, not the vehicle ground) the DPI wire causes the secondary coil to fire. So to get the secondary coil to fire, you need to splice the DPI wire into the ignition ground wire at the computer connection. If it's not spliced in, you have a non-working secondary coil and probably a non-working tachometer as well (or one that reads half of what it's supposed to).
Also, using the ranger MAF with a LB2 computer (or any other 2.3 turbo computer) isn't going to work at all. In fact I'm surprised you even got it to start like that. Here is the summary of computer / air flow metering device combinations:
LB2 / ranger MAF: Truck probably won't run.
Ranger computer / VAM: Truck probably won't run.
Ranger computer / Ranger MAF: Truck will run fine but you'll melt your pistons when it goes lean under boost.
LB2 / VAM: The truck will run right and this is the only combination that will get the A/F ratio right under boost.
Unfortunately, putting the VAM in requires adding two wires from the computer to the VAM, repinning about 4 wires on the computer connector, and splicing the VAM connector onto the ends of the 4 wires going to it. Just look at the pinout table in the tech library that I directed you to earlier.
Also, just how big of a fuel pump did you put in? When I put the 255 lph pump in mine I ended up with 70 psi at the rail at idle because the return line wasn't big enough to flow the extra fuel without causing an extra 40 psi differential pressure. I ended up having to run a new 3/8" return line to get the fuel pressure within spec (about 30 psi at idle).
Did you put the 35 lb/hr injectors in with the LB2? If you are using the stock ranger 14 lb/hr injectors with the LB2 you are grossly underfueling. This is probably worse than trying to boost with the stock ranger computer.
Sounds like you have a lot of things to figure out yet.
Oh, and the "fuel cut" of which you speak is either the fact that you're using 14 lb/hr ranger injectors with a computer calibrated for 35 lb/hr injectors(think about it, that's a 60% underfuel condition!), or you didn't reduce the gap on the spark plugs and the boost is blowing out the spark. If I remember right, the ranger spark plugs are gapped at 0.042-0.046". To run a turbo motor, you need a gap of about 0.028" for a TFI dizzy ignition and 0.032" for a wastespark DIS (the ranger ignition that you are currently using). Also the turbo engines call for a different spark plug part number than the ranger engines do because they need a different heat range. Using ranger plugs in a turbo engine is going to make for lots of pinging (which equals holes in your pistons).