This is common, and while putting together a spare distributor for myself, I discovered that this part is hard to get and expensive. It has no magical properties, it's just a two-conductor, shielded cable. Unfortunately, although I have a pretty good knowledge of electronics, I don't think I can come up with a exact replacement connector on either end.
The two wires inside (which are shielded by a ground lug at the distributor) transmit a very low-level signal from the distributor sensor, which works via (it looks like) inductance.
As long as both small metal connectors (that were inside the plastic) to the inductor in the distributor are intact and the ground is OK, it will probably still work, but I'd get a replacement (while you can).
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