I have an old fender champ 110 amp and it has only 2 prongs and is missing the grounding prong. Is this ok?
Not really. You should have a tech convert it to a 3 prong plug.
as long as lightning doesn't hit your house, or some other bad electrical disaster... blowing a fuse or something. it won't be dangerous to plug it in. but i really suggest getting a new plug/cord.