What would cause a 1993 grand am 4 cylinder to miss and the exhaust to become red hot?

The exhaust pipe will turn red when the engine is running lean. You may have an EGR valve problem, vacuum leak or other problems that can cause the engine to run lean. A lean running engine can burn valves or pistons and causes other problems. Whatever the cause, it needs to be repaired before you put more miles on the engine, otherwise you'll ruin it, if you haven't already.