Engine cranks over , no spark at plugs ,trouble code 12 & 43 ,plugs are wet with gas , could it be coil pack, or should i look at crank sensor

no spark at all spark plugs and the main spark COIL 1 terminal?
1994 is old car, old old Chevy OBD1 PCM.
check all fuses first
then see the service manual, to do the DLC jumper wire trick
to get the FLASH codes out of the PCM.(ECM)
steps
The Assembly Line Diagnostic Link (ALDL) connector or Data Link Connector (DLC)
jumper A to B
KEY ON, not started
The Service Engine Soon or Check Engine light should be flashing.
if CEL lamp bulb is dead,it must be replaced.in IP cluster
The code(s) stored in memory may be read through counting the flashes of the dashboard warning lamp. The dash warning lamp should begin to flash Code 12.
Code 12 NOT and error, all others seen are DTC errors.
if none happen crank engine for 5 seconds,release key see errors now.
42/43 code bad spark see manual
21./22 bad TPS

not told you is what the big spark coil does all by itself
if your Distrib has HEI, the coil main HV is buried inside..
tricky to test.
if spark really dead. the whole rebuilt distrib is best.cure.
NO ENGINE of 5 told and is an Engine question, above is 94 generic.
here are 4 gas engines then with external spark coil pack
we take a new spark wire and plug.
connect it to HVcoil pack tower lugs.
ground the spark plug shell
and crank test the coil,for spark if fails
bad fuses
bad dizzy
bad ecm
or bad coil and is less cost than all but fuses.

There are so many possibilities, fuse, command module, crank signal? Is the module getting 12 volts. It is rarely a whole ignition coil pack goes out unless of a short. Was the unit burned up? If not, it could have a bad crank position signal. The cam sensor is mainly for fuel and crank sensor is mainly for spark.

I'm not sure of engine Size? Did you check the crank sensor? Any applicable trouble codes? Do you have a fuel injector pulse, engine cranking?

Check gas and spark. Check if fuel pump is still working. Do you have fuel pressure? Or can you check the fuel pressure? With key on, the pump should have put fuel under pressure in the lines and up to the injectors.
Check ignition system by checking for spark at one of the spark plug wires, with the engine cranking over. You need to see a blue, snapping spark to know the ignition system is good. If no spark on one wire, check another or all of them. If no spark, and no trouble codes-could be a bad crank position sensor. This sensor helps the computer calculate the timing of the spark, the main sensor the computer uses to signal for spark. It signals to the ignition control module (which controls the coils and the primary current to the coils ((the coils-where high voltage is created to cause spark at the plug)) ). So no spark? Could be a bad crank sensor...or a bad ignition control module...
If you have a single coil and not a coil pack, you might want to test that coil, but if shut down while driving, sounds like computer related, so check ignition controls: that would be crank sensor or ignition control module, or in worst case a bad PCM.

Are you certain it's getting gas, does it smell flooded?
Pull one of the plugs, see if its wet after cranking.
Ground plug and check for spark, if no spark, problem could be crank sensor or coil packs.

If the engine cranks but has no spark, you need to know if the coil is getting voltage and a ground signal. The coil gets power from the ASD relay and a fuse.
Have you checked the compuer for trouble codes ?

You are at thhe right trail what controls spark is coil pack crank sensor sparkplugs and plug wire but the most important is power . I mean 12 volt connections and ground This includes checking fuses you need a simple volt meter doesnt have to expensive or fancy just to pick up 12 volts let start with fuses in the engine juction box (there not mark to what it belongs to) make sure none are open. especially fuse 19 and 24 , next go to the crank sensor make sure the tabs are snuggly on now to the coil pack there is a red and light green wire this comes from ignition and feeds 12 volts at the coil pack measure that voltage is it 12 volts if not correct it this is from ignition switch ( you can make a tool that feed 12 volt with a wire and a fuse in series and attatch it to battery and the primary wire this is known as hot wire) next go to the ECM wiggle the wires see if that get a connection going if not go back to the ICM here are the wire you are to measure the tan light green, this is from ECM and it is pulsed it measure 5vlts to 0 volts switched then measure the tan orange the same thing 5 volts to zero,then tan white again 5vlts to zero. any one of these 5 to zero fails you fix is the ecm

These sensor control the spark. Either one failing will make the engine crank but no start. Crankshaft Position Sensor
Camshaft Position Sensor

Have you established for sure that the fuel and spark are at the cylinder? Pull a spark plug after cranking the starter. If it is wet with gas, then the fuel is ok.. It it is dry, your not getting fuel. Now hook the spark plug wire back on the spark plug and lay the plug down so you can observe it when the starter is being cranked. If you have spark, the spark plug will fire. No fire means no spark. If the engine has spark and fuel in the cylinders, the only other things it needs is air, and for these three tings to happen at the right moment. Has the engine computer been scanned for trouble codes? If not this needs to be done so we can determine if there is a sensor at fault. Without the codes, The only thing I can suggest at this time is to replace the crankshaft position sensor. If you can get the codes, get back with me and we will solve this problem.

check your coil and ignitor maybe thats not picking up enough sparks to crank over the motor
hope that helps