I don't totally agree with your diagnosis. The 1222 code is an O2 sensor problem, likely from a big vac leak, faulty AFM or old O2 sensor.
Here's a good list of codes & a little good advice. Likely as not you might have more than one problem.
I'd start with the fundamentals. Is the car getting a spark? Is it getting fuel? Is there any cracks in the intake boot or ICV pipes? Replace them or tape them up if so. They'll stop the engine if they're too big.
Your DME is likely OK, since it sends codes. It wouldn't light the CEL if it was dead. Sure it's possible, but not likely.
I don't think the cam sensor can set a code if it's bad, but it's only for fine-tuning the timing...it'll make the car run rough but it should still run.
The crank sensor will stop the car but not set a code at all (you'll get a 1444 normally, the all clear code). The fuel pump will not run but the engine will turn over. If the crank sensor doesn't have enough resistance it can't send a clear signal to the DME/ECU and the DME locks out the fuel pump for safety reasons (it assumes the car isn't running & prevents fuel from flowing intentionally).
You can test these sensors at their connectors on the engine conduit...it's a long black metal channel that runs between the upper & lower intake manifold. Car should be off. You'll see the two connectors near the front of the engine (by the oil filter housing) on the driver's side. Pull those plugs & probe them with the multimeter. Top is the cam, bottom is the crank. Here's a pic of the engine, look at the very top center for the two black plugs I'm talking about:
You can see the black conduit too, bolted to the intake manifold support bracket.
I don't want to sound like a jerk, so if you know what I'm talking about just ignore all this:
To use the multimeter (or DMM) you'll have to set it on ohms or Kohms (1000+ ohms) to test for resistance to electricity. Make sure you have the DMM plugs in the right sockets too. Mine has a single ground for the black probe, but two for the red probe. You have to move the red probe from one plug to another depending on the test you want to run. On mine, like most, the high-current amperage tests are dedicated to one socket, all the others run off the other one. You might have to learn the symbols for the tests to be sure which is correct...resistance is measured in 'ohms' and the symbol is a Greek omega. Sort of looks like an 'O' with feet.
