There is a "clockspring" in the steering column that is probably broken. When the clockspring breaks, the airbag light comes on. The "clockspring" takes the place of the old slip rings and spring loaded contacts used in older cars and is used to transfer circuits from the steering wheel to the stationary column making the airbag, horn and speed control operational. To replace involves removing the airbag. Take it to the dealer.
Possible clockspring failure.
You have an broken wire in the clock spring.
Probably a bad clockspring, be carefull that probably meens you're airbag is out of function too, Does the airbag light come on?
On the steering wheel by the airbag
I believe there is no fuse just for the cruise control. The cruise control circuit is covered by the PCM. However, I would check the switches on the brake pedal.
If it were me I would take the air bag back out and make sure the wires arn't "pinched" or broken and make sure that it has a good tight connection with the clockspring connector. If that doesnt solve it then the airbag control unit has failed for somereason. Hope this helps some.
cruise control does not work when headlights are on
The cruise control relay on a 1994 F150 is operated by a switch behind the horn pad and airbag on the steering wheel. The switch will probably need replacement if the cruise control in your vehicle is malfunctioning.
There is a device under the airbag called a clock spring. This coiled tape contains electrical conductors, and allows for rotation of the steering wheel without twisting the conductors. If this tape gets kinked or broken, that would explain why your horn and cruise control both stopped working at the same time (assuming steering wheel mounted cruise control). To check or replace the clock spring, the air bag must be removed on most models, which can be dangerous unless the air bag is properly disabled.
I'm not a mechanic / technician but if your horn and cruise control stopped working at the same time , it might be the clock-spring inside your steering wheel column cover . The clockspring allows a person to turn the steering wheel while still maintaining the electrical connections to your horn and cruise control buttons
replace clock spring for airbag in streeing column.
You need to have someone with a scan tool check the airbag system for trouble codes. The airbag system is not a place for do it your selfers.