First off, pretty sure that's not the ship name.

Also I'm reacting like this now.

"Hey guys?" Johnny said. He rubbed his arm and stood up off the Curtis' couch.
Because as we all know, that is what you have to do when you have an announcement.

"Yeah Johnnycakes?" Says Dally.

"I'm um, I am, I like um, Im not, er, um, uh," Johnny says.
I get he's nervous, but shouldn't he have some idea of what he's about to say?

"Speak up kid!" Says Two Bit.
It's been a while since I've read the book, but I'm pretty sure Two-bit wasn't this much of an asshole.

Also, what's with this formatting? There's like 3 blank lines after every paragraph.

Johnny looked at his toes and whisper-mumbled "I'm gay."
If you're this freaked out by the concept of coming out, don't come out. Wait til you're ready. There's nothing forcing Johnny to do this here.

"What?" Asks Ponyboy.

"I'm gay." Johnny says a little louder. "I like guys."

Everyone gave mixed comments like 'that's okay, we still love you' or 'we support you' or 'do you think I'm hot?' The last one was probably Soda.
How is this getting so much support in the 60s? I mean I get they're all friends here, but seriously? All of them are totally cool with it?

Johnny smiled like a huge burden had been lifted off his shoulders, which, of course, it had. 
Um... no? Pretty sure you just added a huge burden. Being gay in the 60s wasn't fun, baby CC. They literally wrapped them up in rugs and lit them on fire. Now that other people know that Johnny is gay, there's a risk of them telling someone else, and his life is actually more at risk than before.

He sat back on the couch. 
Why is this a whole paragraph?

Later, when Johnny was looking at the stars in the lot, Dally came to him and sat down.

"You're adorable when you're thinking." He says.
Who the fuck says this? Moreover, would Dally say this? And the lot is a public location, right? Why would Dally be okay with casually flirting with another guy in a place where someone else can hear? In the 60s?

Johnny looks at him and smiles.

"If you were a girl, I could dig ya." Dall said.
What?

Johnny sat up frowning. "Burpt I'm not a girl."
Apparently baby CC has never heard of spellcheck.

Dally embraced the smaller boy and said, "there there, it's okay."
Again, pretty sure this is out of character for Dally and a really stupid thing to do in a public place in the 60s.

Johnny pushed him away and said, "No! It's not okay! You said you'd only date me if I was a girl! It'd be fine if you weren't so fucking hot!"
Now it's Johnny's turn to be out of character. Also, again, he's saying this in a public place where just anyone can walk by and hear them.

Dally placed his band o Joh ny's shoulder. "I never said only."
Still no spellcheck or proofreading. Also, yeah you kinda did, Dally. You said "if you were a girl, I could dig you." If. That's conditional.

Their eyes met for a few seconds. Johnny saw passion and love in the older boys  eyes when he looked at Johnny.
They weren't already making eye contact? And like, what does "passion and love" even look like?

"Come here beautiful." Dally says just before pulling Johnny's face to his and kissing him on the lips.
Guys, you're in public. In the 60s. In Oklahoma. Y'all are going to die.