01 f-150 4.2

Got an odd problem with my f-150 (2001 4.2L V-6)
From time to time, it won't start. Turns over fine, but not a hint of firing up. If I turn the key off and back on, it will sometoimes start. For the last week or so, it's happened maybe 3 times and each time, by the 3rd try, it would start. Today, I tried maybe 20 times and not a pop. I checked the fuel pump reset and thought I felt a click, but still no fire. 3 more times and it did start. Once running, it runs like a top.
My nephew has the same truck and about a year ago had about the same problem. His turned out to be the ignition key had lost it's "program"
I do have a second key that's only a year old and has only been used to test it when I got it as a spare.
The truck does have a Jet chip in it that gives me some much needed HP when I pull my 7,000 lb toy hauler.
It's a pain to remove, so I'd rather pick brains here, before I try that.
What do you think? Chip? Key? Something else?