1 wire O2 sensor? HELP!

[VWAudiPorscheNut at aol.com]

Hi Guys, My daily driver, a 1988 Jetta GL 1.8L Digifant, needs an O2 
sensor... apparently someone cut the wire, and put a spark plug in the bung 
(smart huh?) Anyway, a new 3 wire is like $143, and a little pricey for my 
wallet. I was curious is I can use a 1 wire? I know there is no heater, I 
assume the computer would just stay open loop for a bit longer, right? Thanks 
for any help!

Jay

1977 924 (full tilt, 2.1L, elgin cam,msds header,two mikuni phh 44mm carbs, 
2100lbs,944 brakes, roll bar, 150HP....)
1988 Jetta GL (everyday Deutsch flog-hound)
1983 Ford Ranger 4x4 V6 (WHAT? a FORD!sorry VAG doesnt MAKE a truck....)