I need to figure out whats wrong with my 1989 mercury grand marquis

It does this weird shuttering thing almost every time I drive it going More than 45 mph.It seems like if I give it to much gas to quick it starts doing it.I pull over and turn it off and it seem to kinda fix it.The other day I had to pull over 4 times on a 20 mile trip.I got sick of it and just drove it the rest of the way home,when I pulled into my driveway,smoke was coming off the car.I opened the hood and was trying to find where it was coming from ,but it seemed to be coming off the front ,driver-side wheel well.When it shutters it seems like it doesnt matter how much gas I give it,It doesnt stop shuttering ,and doesnt want to pick up speed.2 hours after it got done smoking,it drove just fine.Please give me some insight on what to do to fix the problem,or problems.What can I do at home to fix it?
engine size=5.0 efi ,automatic 3 speed(1,D,overdrive)