I assume that you are aware that your code will not find three letter CAPS that start the document, end a sentence or paragraph
Code:
Sub DeleteCap3Word()
Dim oRng As Word.Range
Set oRng = ActiveDocument.Range
With oRng.Find
.ClearFormatting
.Text = " [A-Z]{3} "
.Replacement.Text = " "
.Forward = True
.Wrap = wdFindStop
.Format = True
.MatchCase = True
.MatchWholeWord = True
.MatchWildcards = True
.MatchSoundsLike = False
.MatchAllWordForms = False
While .Execute
Select Case Trim(oRng)
Case "USB", "PSA"
Case Else
oRng.Text = " "
End Select
oRng.Collapse wdCollapseEnd
Wend
End With
End Sub