Indeed, ignition box died on my 4.5 and that's why it was parked several years ago. You can bypass it for now if you get a condenser, but I'm not sure on how to wire the system. You'd have to ask someone else. $20 fix if you do it that way.

Verify the coil is getting voltage - put a multimeter on the leads going to it (with them off the coil), or just a lightbulb. Crank it. The multimeter should fluctuate and/or bulb should flash. If not, bad box.