No, Vince didn't die in TFATF. He was one the run the same as Dom because he makes a reappearance in the new Fast Five movie. He's been living in Rio of Brazil. Not to be a movie spoiler, he does die in Fast Five, and he has a baby boy he named after Dominic.
The Fast and the Furious didn't say whether or not Vince (or Jesse) actually died. It left it open, but neither of them were in any other TFATF movie. I'm not sure if they are mentioned in Fast & Furious.