May be a beating a dead horse here but,, have you pulled off dizzy cap and cranked engine over to see if your rotor is rotating,,, you may have a broken pinion gear on your distributor,,, just a thought..
And you have no blown fuses or anything??,, I had an issue similar to that with an early 90 's full size suburban,, turned out that my ecumenical fuse was blown,, thus no spark, but plenty of crank,, go figure..
Bypassing the computer is something that us with 85 to 95 wranglers and cjs do to put your jeep back to a pre 82 or so state of mind,,,it's referred to as the nutter bypass,,, very effective solution to the computer controlled ignitions and carburetors of the early (experimental) 90 's,,, look up nutter bypass in the forum home page,,, and look for an article written by mike romaine,,, very helpfull if you are starting from the beginning ..hope the info gets you going in the right direction,, happy jeepin
The only thing tricky about the write up on the bypass is the color on the wiring,, there is a minor discrepency between cj and wrangler as far as the colors,,, if you get into it hit me up and I will do my best to help,,,, I did the bypass on my 90 wrangler 4.2 some time ago and had nothing but good results in the end..