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 o 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.