I couldn't tell you if that's the right cluster wiring diagram or not. Have you tried just plugging it in and seeing if it works? It's quite possible you won't need anything other than maybe a wire to the oil sending unit. You'll know if you do because oil pressure will read max constantly.
As for the check gauges/low fuel lights, that's a very common problem for the '88 - '93 gauge clusters. There is a fix for it, though it will involve resoldering 14 pins on the back of the gauge cluster. If you can solder, it's a very easy fix.
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