The United States and Egypt have reached a preliminary agreement on a deal to permit Egypt to co-produce the M-1 tank--the most sophisticated in the U.S. arsenal, the State Department said. But the tentative pact drew quick fire from Congress, where Democratic Sens. Howard M. Metzenbaum and John Glenn, both of Ohio, said they would oppose any such deal because it would give away U.S. military technology and cost American jobs. The tank is built in Lima, Ohio, and Warren, Mich., by General Dynamics. State Department spokesman Charles E. Redman said the details of the arrangement with Egypt have not been worked out.