I say try changing out the crankshaft sensor.
It appears that the 1996 Toyota Tacoma has a timing belt.
Timing chain.
on the right side of the engine towards the bottom
On a 1996 Toyota Tacoma : The 2.4 and 2.7 litre four cylinder engines have a timing CHAIN The 3.4 litre V6 engine has a timing BELT
A 1996 Toyota Tacoma 4-cylinder is able to use 5w20 weight oil. When the oil is changed, the oil filter should be changed as well.
the antitheft lights blinks the car cranks but doers not start
5 quarts on the 4 cylinder and 5.5 on the V6 with oil/filter change.
5.7 quarts with filter change.
The most common would be engine cranks but does not start.
The slave cylinder is located on the driver side of your bell housing going to your motor. Its a cylinder about the size of a roll of quarters.. maybe a little bigger.
It is a 2.7 liter with 150 h.p. and 177 lb/ft of torque.
After extensive diagnosis of fuel and ignition system, I solved my 1996 Tacoma hot start problem by having the valve clearances set properly. Tight valves cause compression loss and hard starting when the engine is hot.