That truck doesn't have a external crank sensor. It does have a pickup coil (hall effect) sensor in the TFI distributor.
The truck turns over but will not fire up correct? First thing I would check is if it has spark and fuel pressure when it's acting up. Most important thing is to make sure it has fuel and it has fire. If it's missing one then you can diagnose it out from there.
Does the truck run good when it does run?
If it has dual tanks the selector switch in the dash can be the issue as well. I've replaced a few over the years. If you have no fuel pump when you turn the key to run this is something you can test. Sometimes you can flip the switch from the front to back tank a few times and then the truck will then cycle the pump when the key is turned on.
TFI modules do fail but 99% of the time they do it when the truck is hot.
The pickup inside the distributor can go out as well. If you pull the distributor cap can you wobble the distributor shaft side to side? The bushings in the distributor will wear and cause the exciter ring inside the distributor to hit the pickup coil (hall effect) sensor and that will cause issues. If this is the case and the truck has a ton of miles I would replace the entire distributor and not just the pickup coil (hall effect)sensor.
It can be alot of things. Easy to diagnose in person but almost impossible online... Test things before throwing money at it.
Good luck