5.7l MCM cutting out at 3000 rpm

[ThaBiggT]

serial number is 0K030767. Boat comes right out of the water like it's gonna plane out, but if I let it hit 3k it dies. When I ease into the throttle it'll pull strong until 3k, then it will bounce off 3k just like a rev limiter. Stumble when it hits 3k but come right back as soon as the rpms lower a couple hundred. Saw in another post to disconnect the tach and try again. gonna try that this afternoon. Any suggestions would be much appreciated.