Is that the same as the Ranger with the 2.3? If so the culprit may be the TFI. It is that square thing that plugs into the distributor. Use only Motorcraft. The aftermarket is junk and you will only be chasing misfire problems.
66 Coupe/66 Convert/84 GT Turbo/96 coupe
I used to own a Ranger and had similar problems. The problem was traced to some kind of motion device that turns off the ability to start the engine. It is designed to prevent the engine from running if it is in an accident. There is actually a reset button, and I think it is in the passenger side kick pannel. Good Luck!
1966 Coupe - GT - 4 speed