Under hood temps can get really high normally, but maybe the motor is overheating. I'm just guessing, but if the same sensor is used to feed the computer and the gauge, it could cause these symptoms (computer turns the fan on, I think.) But do check the temps to see if it really is getting hot before throwing parts at it.
Coolant temp should be about 195 to 215. A stuck closed stat usually will cause popping noises and an overheated indication. I'm thinking that if heat is the problem, it could be messing with electronics enough to cause a chip to fail.
Running lean can cause a motor to get hot too, but there should be codes set and check engine light. If a fuel pump or filter is failing, you can get enough gas to rev to red line in neutral, but have it crap out under load.
Let us know when you find out what the problem is.
Richard
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2K GT
Diablo Chip
K&N
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