I was riding for approximately 12 miles with no problems. I stopped at a stop light and took off at a pretty good rate and all of the sudden my gauges stopped working and the bike shut off. I was able to re-fire the bike but only the headlight would work and the bike wouldn't rev over about 3 grand. Anyone have any ideas on what the problem might be?

 

Your RR (Regulator Rectifier) is out. You can get an aftermarket one of of ebay or put a Suzuki one on. Bunch of folks on this forum has done that Suzuki upgrade. Do a search for the member idodirt, he has a really good write up on how he did his.