1993 Water leak got into computer

[juanpablobnavdz]

I have a 1993 thunderbird 5.0 v8 custom built it sat for 8 years before I bought it off my father in law there was water in the computer and I had it rebuilt but it’s not running as it should be and I drove it around for a little and it sounded like it wanted to turn off and while I was driving it there was smoke coming out the exhaust I need help, any ideas what it could be?