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I don't have any advice on the cruise control, it would have to be checked out. The same speed sensor on the transmission handles the cruise control and the speedometer. If it fails, the speedo would quit working and the check engine light would come on.
i also have a 99v70. As i was driving the car home 2 days ago in cruise control. Suddenly the speedo dropped to '0'. The cruise control quit and the abs, upshift arrow, and check engine light came on. The solutions is the 'abs control unit' From Volvo; 870.00 from Advance; 256.00 w/ core exchange. Its fixed all those dash issues.good luck
There is a brake light switch that ,disconnects the cruise control,when braking,this maybe the problem,even if the brake lights work fine,the switch still could cause this problem,replace the brake light switch.
possible speed sensor at rear of transmission,does engine rpm sound higher then narmal,and is your trans shifting as it should,if these problems are also present replace the speedometer sensor at rear of trans,$50 to 60 bucks
DID YOU CHECK THE RECALLS?? MY 93 F150 HAD A RECALL W/ THE CRUISE CONTROLL (WICH I HAVENT DONE..LOL) AND SUPOSIVLY IF IT ISN'T FIXED IT'LL CAUSE A ENGINE FIRE.. ACCORDING TO THE FORD DEALER IF THIS RECALL SERVICE IS PERFORMED IT CAN POSIBLY MAKE THE CRUISE WORK AGAIN.. (MINE DON'T WORK EITHER) I DONO.. MABE IT'S THAT.