When you say 'cut out', do you mean an instantaneous shut down, like what would happen when you shut it off with the key or kill switch, or that it begins to bog down and run rough and eventually shut down?
Either way, and especially if it's the former, hit all of your switches (kill, ignition, kickstand, clutch, lights, and anything else you can think of) with electrical cleaner. It could just be that a dirty switch somewhere is intermittently causing problems.
Others will get in here who are more knowledgeable than I and will help you better diagnose this problem, but if you only listen to one thing I say it's this- Do not diagnose problems by buying parts! I see soo many people burn through so much money replacing parts that didn't need replacing in situations just like yours. Do not replace a part until you have diagnosed it has failed. There are lots of knowledgeable people on this forum who will jump in and help you do just that.
EDIT: SWVA beat me to the first part. Great minds think alike eh?
"8 But God demonstrates his own love for us in this: While we were still sinners, Christ died for us."
Romans 5:8 (NIV)
2014 Kawasaki Vulcan 1700 Vaquero ABS SE
iPod Connector Kit, Kuryakyn Highway Pegs, Mustang Touring Seat, Marvella's Hitch, Kuryakyn Trailer Wiring Kit, Haul-Master Tag-a-Long Cargo Trailer
2011 Honda Shadow Aero 750 (Wife's)
Memphis shades quick-release windshield, OEM Solo Seat, Mustang Fender Bib, Chrome Solo Luggage Rack
Past: 2006 Vulcan 900 Classic LT