SOURCE: My Virago 750 starts up nicely idle is fine but
The rubber seals and fittings between the carbs and cylinder head get hard and brittle. They can develop small cracks and also loose the seal they had when new and pliable. This means that extra air gets into the air/fuel mix as it heads for the intake valves. The air that has not gone through the carbs leans the fuel mix and causes the high revs. The seals and fittings will need to be replaced. Dealers have parts in stock for 10 years. Your bike is 22 years old. Google yamaha virago 750 parts also Google vintage motorcycle parts. Babbitt's would be a good source if the '87 and '88 parts match up. They list an '88 and have all the parts in stock except one hose line.
Go to the site below where you can see a parts diagram for your specific bike. You will select the actual brand, year, model, etc., once you go to the site. Part numbers and prices are also shown. You can order parts from this site. In the event no price is shown on a particular part and/or the notation "Not Available" is in the description, the part is not in stock. www.babbittsonline.com/pages/parts/viewbybrandand/parts.aspx
SOURCE: When i put my 1987 Yamaha Virago in gear, it dies
Yamaha motorcycles of this vintage often have issues with their kickstand switch. This switch can be disabled by clipping the two wires that go into the switch and wiring them together--the kickstand switch is normally closed (letting current flow) when the stand is up; the switch is open when the kickstand is down.
This is more afield than your electrical concerns, but if the clutch plates have bonded together, the bike will stall when you put the bike into gear. The bike will start and idle fine, but basically, you don't have a working clutch, so the bike will stall out when you dump it into gear while at a standstill. You can test for this by starting the bike and having someone push the bike to get up to a little speed, then trying to shift into 2nd gear. If the bike lurches forward before stalling or keeps running, you have a clutch, not an electrical issue.
Folks sometimes get lucky, and working the clutch plates a few times will free up the sticking plates. I have had this problem with a mid-1970s vintage Honda that I don't ride very often. Eventually, the clutch plates free up and the bike is good to ride again.
Good luck!
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