there, i have been trying to help my neighbor fix the same problem we searched and found this on edmunds, he fixed his on friday, the sensor was about 100 bucks, also this gives a nice tip for the install/removal of the sensor,
heres the info from the site,
"Interesting info Chev 8.1, if your's is already acting up I advise you to change it asap. My truck is a 2001 8.1 also and it just turned 55K, I've had it for about 3 months. About two weeks ago I went up the road for lunch then on the way back, probably at about the temp you listed, it cut off and wouldn't restart. After about five minutes I got it going again and made it back to the shop. No CEL but I put a scan tool on it and found one failure record for the crank sensor, which made sence. So I ordered one and put it in that afternoon. It was rather tedious due to the location behind the D/S head, and the warm but not hot motor temp. It took about an hour with the lift and shop full of tools. Doing it againg would take about 30 minutes. The new one was a different design but the old one came out in one piece. After using a Gearwrench to remove the 10MM retaining bolt use a long flat ended bar to tap it up and out of it's hole as it doesn't want to come out by hand. Perferibly the pry bar will have a bend at one end to get a grip on the sensor lip sence it's at the top of the bell housing.
To make this long story shorter this has been my faivorite mod. Let me 'splain, the truck picked up big power and mileage from the new crank sensor. It's like the ignition timing took a big bump. The parameter for the crank sensor to set a failure record is to drop it's signal for MORE than three seconds above like 1000 RPM. So evidently mine was dropping a signal continuously but for less than three seconds at a time so I had no idea what I was missing. If yours is acting up I would expect you would be very pleased with a new one, not to mention that one of these times you might be stuck where ever it decides enough it enough.
With the bad sensor I had no other obvious symptoms."