Whats happens when a boosted engine floats/hangs/ lifter pump-up its valves?

Engine did`nt want to rev past 5,000 before blower,and it still don`t.

Engine came in car but have a buildsheet:484MP,heads milled .070,.030shims undr shafts..510 lift-springs
Carries 80-lbs. oil pressure

70` Cuda`,440 6BBL Jerico,Dana 4.56 Still on 93 Pump Gas
9.87 @ 136/1.31-60ft.`09 Mopar Nationals PASSON PERFORMANCE "Stick-Shift" Champ!
2013 StickShift Challenge Winner@ Mopar Nationals!