Well...it turned out to be the ignition module located in the distributor. Replaced, and it stays running - no cutouts now. Hope this will help someone!
However...the car will still idle high after a few minutes running, and then the service light comes on. Rev the throttle once, and it evens out (goes back down) and the light goes out. Any ideas out there considering everything that has been replaced on the car now? Thank You!