Fuel Pump doesn't run

Hey guys, I've been digging around on the site for some time now and I need some help. I have an '87 Ram 50 with a carbureted 2.0l and I have myself a hair of a problem. Now don't laugh, but this is my truck...
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Yeah... Anyway, Last night I went to the gas station and fueled up just to have the thing decide it was done running. As it happened, I was doing a quick tune on my weber carb when it died. At first I thought I killed it with the adjustment. It took a while, but I figured out the pump wasn't running. Now, this thing has an aftermarket pump on it as you can see here...
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The red wire you see is coming from the bypass switch I had to rig...
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And before you ask, yes, I have a fuse on it. I broke down in front of a Menards (hardware store chain in the Midwest) so I was lucky to have a source of supplies. I had got this truck from my brother about a a year ago. It was a project truck that he had to abandon when he found out he was about to become a father. (No, he didn't put the Ghostbusters stuff on it. That was me.:P) I called him and asked him what he knew about the truck acting like this to give me a clue. He pointed out this thing to me...
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He said it was a low oil cutoff for the fuel pump. I keep looking at this thing and I see three connectors on it. I don't know if this thing came with the aftermarket pump or not because I can't find the exact part for this thing anywhere. I have no need for a sender unit for my dash cluster, so I'm sorta stumped on what to make of this. I checked the fuses involved and they were good. It looks like a hack job put together by the yahoo that had the truck before my brother got it. Anyone here have an idea on what needs to be done to get this going again properly?

I'd ditch the low oil pressure switch for a start. Just unplug it and bypass the wiring. It is another thing in the system that can fail (yes the low oil pressure switch is a fail safe in an attempt to protect the engine but if the fuel pump is running off the ignition circuit, the key is the fail safe) The fuel pump appears (appeared...) to be a Carter P0407 and it's in appalling shape. You can pick them up on Ebay. I am not a fan of the Carter pump as I have found them to be noisy and in my experience not very reliable. You will need to find out where the pump is getting power from (hopefully it is only hot when the engine is running) and hard wire it to that circuit. As for the ghetto fix bypass switch - keep it. I would simply install it into the dash properly. The reason for it is by disabling the pump, you can prevent the truck from being driven anything over a short distance before the engine is starved of fuel - good to slow down any would be car boosters from getting too far with your ride if they manage to start it. Put a fancy missile switch cover over it to scare passengers lol. BTW I am digging the theme of your truck. It's quirky and cool. I actually want to do a zombie containment theme on mine lol.