Cruise control will not stay engaged

Depends..GM programs it's cars not to engage cruise control if there is a emission or performance issue with the engine.

I have a 2001 lincoln an when i try to set the cruise the light will flash but it will not set ?

i've been told it's speed sensors. I have the same on my 1999, but my light flashes when i try to engage. And 1 out of 10 times, it engages and I can cruise. Just not worth it to me to fix. Ford never claimed there was a problem.

Check that your brake lights are staying off. Brake light switch will put your cruise control into coast mode.

If you can please look under the hood and find the Air filter, and follow that all the way to a round metal part (Throttle body) If you can see it there will be a coil,and on that coid will extrude a curved plate with a cable(throttle cable) attached to it running all the way back inward toward the back of the engine, and next to that there should be a second cable (crusie control cable). This cable is pulled on when you engage the cruise control, by a black box next to the fuse box.
If the Cruise control cable is near by try to reattach it and if it is damaged then have your dealership or some one mechanically inclinded to replace the tip ( if plastic) or replace the cable.
If that didnt help please get back to me

Check the speed control deactivation switch on the master cylinder. disconnect and use a jumper wire to connect the wires together. If the cruise works it's the switch.

look in your owner's manual for the location of the cruse control fuse it is different from other fuses usually much larger

take it to the work shop