engine check light

This is peter
I have check engine light and loss of power.1997 Nautique 5.80 fuel ejected ford engine. Plugs are new, fuel filer is new, carter fuel pump is new. Runs extremely strong out of the hole and up to 3300 rpms all day long. Once up around 3600 and above it runs about two minutes the engine light comes on and a loss of power accrues. I can get it to recover by slowing down to 2500 Rpms for 20 seconds light goes out and then it will power back up for two or three minute's. I have cleaned high pressure cell and inspected its fuel line too. It has the black rubber one with factory clamps, not the clear tube I read about that has the failures. I am moving towards sensors. Any ideas

Lewy
Thanks for the great tip. Temp is good not sure on oil pressure I do not have a way to test. I will try the wire test for faulty switch. I think we are on the right track. Thanks

We ski on several reservoirs. Local shot fifteen minutes Jordanell state park most often. Also Deer Creek, and Rock Port State parks. Usually find my self on a road trip once a year to Jackson Lake Wy. in the Teton National Park.
   I am checking out my engine problem today.