The EEC-IV computer(1994 and older Rangers) will have a REV limiter, and I think some Mustang EEC-IVs did have speed limiters not sure on Ranger EEC-IVs, but if it does have one I would guess 90MPH would be top speed
The 1995 and up EEC-V computer did have both
EEC-IV needs a "man in the middle" circuit board to make changes, it isn't programmable like the EEC-V
But if speed is the only issue then you can adjust the speed the computer sees
By changing the signal from from the VSS(vehicle speed sensor) signal on the speedo cable hook up, speedometer on dash would remain the same/correct because it uses the cable, the VSS signal was only used by computer and cruise in 1994.
Or you may just be able to unplug the VSS from speedo cable on trans, so computer has no speed reference, not sure on that.
Or if you are not worry about correct speed on speedometer then just change the gear on the speedo cable to show lower speed than actual speed.
I wouldn't drive my 1994 above 80MPH on any road, lol