There is a lot more to it than that...
Where is the boost gauge when the cut-out happens? Is it way up in the middle of the red? If so, that is where the overpressure switch is supposed to shutdown the engine by cutting spark. If it is low red or orange then the switch may be faulty. It is mounted on the right side firewall.
The turbo is easily capable of making too much boost pressure which has to be limited based on engine running conditions to prevent destroying the engine. The control box (APC) has the job of monitoring engine running conditions and sending the electrical signal to the APC solenoid. The APC solenoid's job is to modulate the vacuum going to the wategate control dashpot. The wastegate controls the boost pressure by dumping excess pressure when opened.
If you were to unplug the electrical connection to the APC solenoid it should route all of the vacuum to the wastegate dashpot and drop to "base boost" only, which should be near the middle of the center orange section of the boost gauge. This mode is actually quite driveable though you will have less maximum power.
If you still get too much boost then either the APC solenoid is stuck closed (actuated) or the wastegate is stuck closed (won't dump pressure).
I would suggest looking at this web site which goes through troubleshooting the APC system quite well, though it may be a bit too technical for the average handy-Joe. http://68.18.142.57/turbo_folder/baseboostdia.htm Good Luck,
-Fred W