MSD wire coming off Distributor Cap??

[gsrev]

Boy that pissed me off, the last race of the nite on the track and i line up w/ a 5.0 mustang on slicks. I have an almost perfect r/t and miraclly get out of the hole in front instead of playing catch up.. I shift into second really putting on the car lengths on him.. shift into 3rd and whooo hoo no missed shift... perfect... my rpms are a climbing hit 6500k and wham my engine totally bogs down and sounds like a blew something internally, my cel starts flashing at me and my car is barely responding, I shift into 4th to finish off the race and here come that rustang barely beating me. I ran a 15.4 on 3 cylinders and he ran a 15.0 I had him by like 6 car lengths b4 this crap happened and yet he has the gull to say.. "hey bud thats a pretty quick honda, but not fast enough!" What a nerve.. But anyways I was like shitten bcuz I didnt now what was going on till I pulled over I seriously thought my engine died on me. Checked the code and it was a code 74. Popped my hood and i see the plug wire just hanging loose?? WTF??? I know for a fact I made sure all the wires where in and snug. What could of caused this, and secondly do you think I may have scared my #4 piston since it was getting no spark and under boost? My car seems to be running fine, but kinda concerned as this is my daily driver and dont have another ride if something happens to this one. I tell you that was a sucky ass feeling.

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1998 Super Sonic Blue Gs-r
Minor bolt ons include:
Jrsc 6psi w/ fuel pump upgrade, Autometer boost & air/fuel guage, ACT- HD with steet disc, Modified CAI w/ K&N filter, DC Sport 4-2-1 header, MSD Ignition, Ground Controls w/ agx's, Neuspeed front strut bar, ITR rear sway bar, Power slots w/ metal master pads

[zip]

Since your cylinder wasn't getting any spark then no harm was done. The fuel/air not being combusted actually cooled your number 4 cylinder.