Pin 3 on the UC3845 is not an overcurrent sense input. It is intended to monitor the MOSFET current and should be connected to the source of the switching MOSFET (which must be returned to 0V via a current sense resistor) via an R-C delay circuit as shown in some of the diagrams posted. Without this connection, the current-mode control of the UC3845 will not operate in the intended way. Likewise, pin 2 is not an overvoltage sense input; it allows the UC3845 to regulate the output voltage of the boost converter.
The UC3845 is being used simply as a high-voltage generator. It charges the capacitor, which is then discharged into the coil, as explained by duke37. There is nothing special about the UC3845.
Someone queried the idea of using the alternator to power a circuit before the engine is running. I expect the alternator will generate voltage in response to the cranking of the engine (whether this comes from a foot-powered starter lever or a starter motor).
I was going to write a lot more about CDI, dwell time, etc but I have little experience here. I will watch this thread, though.