Honda acceleration and startup problem

I have a 1991 Honda Civic 1.5
I was going down the highway at about 50 and tried to accelerate to 65. When I push the accelerator the engine starts to accelerate but then cuts out if the pedal is pressed too hard. I can usually let off and then press it very slowly and I will eventually make it to the speed that I need. The check engine light is on all the time. And now to top it off I can't get it to start. The ignition will turn over but when it starts to fire it somehow gives up and dies. Then I get a very acrid gasoline smelling grey smoke from the exhaust. It sounds like an injector or fuel filter problem to me. Or some other form of clog in the fuel system.

I tried to jump the switch under the dashboard and get a code, there was no sound and no flashing lights.
Can you offer me any advice or assistance at all?

-Luke