im with rookie.... an o2 sensor would make the truck run like crap, not keep it from running..... when welding, did you have the vehicle off and the battery disconnected?
i have welded on my yota several times with the radio on in the car, but my truck doenst have a sensitive ECU like an explorer..... this might jsut be hot air... but i have heard that on the newer ECU equipped vehicles that even jsut using the groundplane for welding can cause enough of a surge to fry the ECU
along those lines might also want to check fusible links or fuses, as they can blow and stop the vehicle from running if you blew a critical one.... welding does create a lot of heat and a lot of current draw through circuits...