Jeep won't fire issue

[Bensjeeping]

I have a 84 CJ7 with a AMC 258 i6 / 4.2l straight 6 5 speed. A few months ago I was driving and the jeep completely shut off. I found that a wire had pulled out of the back of the fuse block. I soldered the wire back in and sealed it up, but now the jeep will just crank and crank. Here's what I've done,
Replaced: starter solenoid, ignition switch, ignition coil, and ignition module. still no spark. I've traced the voltage around and have found that I am only getting 7 volts to the ignition coil. I removed the red wire from the i terminal of the starter solenoid and turn the ignition to run and it measures 7 volts. The blue wire for the S terminal reads 12-volts when the ignition is turned to start. When I remove both red wires from the starter solenoid and and ignition coil (respectively) they both will read 12-volts.

On top of that, both of these red wires are connected to a resistance wire that runs back towards the ignition module. It splits and one wire goes into the ignition module and one goes somewhere else. These wires both have 12-volts.
When everything is hooked up, the resistance wire becomes extremely hot and starts to smoke within 30 seconds. Seems like something is up with this wire, but I'm nervous to just remove it. I've read a few places that say not to do that. Has anyone come up against this or have any ideas/suggestions!? Thanks!

 

[Torxhead]

That resistance wire runs from the #1 alternator terminal to the red coil wire. The red/white tracer wire from the starter relay, ignition switch, and icm is also attached to it. This gives the ignition 12 volts at startup then runs at 6 volts when the key is in the run position. The resistance wire does get warm as it is reducing volts, but it should not be as hot as you describe. Right off hand I am thinking you have a short somewhere as I have not heard of a bad alternator or icm causing an issue like that. Touching the icm should not get hot either and if it does will destroy it.