On both the 0-60 PSI and the 0-120 PSI gauges, the ribbed connector MS33800 Style 2 should be connected to the SENDER (Oil Pressure Transmitter). The smooth connector MS33800 Style 1 should be connected to the IGNITION (24 Volts DC when the ignition is on). If you hook the gauge up wrong you would just drive the needle on the gauge in the wrong direction (possibly hurting the gauge), but you would not affect the actual engine oil pressure in any way whatsoever.
Interestingly, the parts technical manual TM9-2320-361-20P lists the following for the Oil Pressure transmitter and indicator.
Figure 54, Item No 12, Transmitter, Pressure - 24 Volt DC 120 PSI.
Part No MS24539-1 (see Mil-Spec MS24539), 0-120 PSI when connected to indicator MS24540.
Figure 46, Item No 32, Indicator, Pressure, 24 Volt DC, range 0-60 PSI.
Part No MS24541-2 (MS24541-1 cancelled; see Mil-Spec MS24541).
So the parts manual lists a 0-120 PSI Transmitter with a 0-60 Indicator.?.?.?
The Transmitter Mil-Spec MS24539 says 0-120 PSI when used with Indicator MS24540.
Part No MS24540-2 (MS24540-1 cancelled) is an Indicator, Pressure, 24 Volt DC, Range 0-120 PSI.
Calibration data for all 3 items is attached as a Word file.
From the attached calibration data an MS24541-2 indicator 0-60 PSI would function but it would indicate half the actual oil pressure PSI if used with the MS24539-1 transmitter 0-120 PSI. The gauge wouldn't be hurt but the reading would be off. The correct combination for a 0-120 PSI Oil Pressure reading is an MS24539-1 transmitter 0-120 PSI with an MS24540-2 indicator 0-120 PSI.
PS the two cancelled indicator part numbers MS24540-1 and MS24541-1 had luminuous dials (possibly radioactive).
Also attached are the transmitter and indicator MIL-SPEC's.