Q: Check engine and air bag light flashing on 1992 Ford Mustang LX

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recently changed engine from 2.3L to 5.0 in my 92 ford mustang and now I have the check engine and air bag light flashing. When I first start the car it is off, after a minute it begins flashing, the car sounds and feel fine while driving. There seems to be no other problems. I have heard that it could be a module, but how true is this. I am looking for specific things to check for without having to remove this engine and starting from scratch. Any suggestions, thank you?
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I also have a 92' 5.0 gt with the air bag light flashing. I get a code of 34. can anyone tell me where the sensor is?