Get a cheapo spark tester for like $3 at Harbor Freight. Do you have spark? If no spark, then I'd consider the hall effect sensor that determines the position of the crank shaft. If that goes out, then the engine never recognizes when to fire, nor when to send fuel.
In the '87 3.8L, the hall effect sensor only determines when to send fuel. The distributor has a rotor to determine when to fire.
--Mark
http://www.marksatterfield.com