Yes its a VGT control issue. More than likely a back pressure sensor causing it. First use your Dashdaq? and put exhaust back pressure parameter up on the screen so your can monitor it. If its not changing in correlation with boost pressure then the narrow tube off the egr catalyst pipe to the sensor is plugged/froze off or the back pressure sensor is ***ed. 2nd, if its reading properly, you need to pop the hood and move the VGT arm/linkage back and forth checking for smooth easy operation. If it doesn't cycle back and forth easily by hand with the truck off it is stuck.
Whats happening is your vgt isn't opening up properly and your over speeding the hell out of it making stupid amounts of boost. The high pressure charger won't last long before it explodes/breaks a shaft/eats the bearings and seals, if its not already damaged. Also your actual back pressure is going to be pushing 80 or even 90+ PSI which is extremely hazardous for your valves and pistons. If you've been driving like this for a while and have been flooring it, then I put money on you having valve/piston contact. Definitely shouldn't be driving the truck like this. Especially flooring it.
I climbed a steep grade hill once, empty, with stock chargers/fuel but a froze off back pressure tube,then it down shifted, and I hit 62PSI boost. EBP was stuck at 18 PSI. I came off it very quick hoping no damage was done. Limped it onward. Anyways I guarantee its a similar issue and it needs to be fixed ASAP if you wanna keep your truck driving.
Whats the outside temps been like there when it does it? EGR is deleted?