could someone explain what/where it is and what it affects. air bag light is on, cruise control does not work, abs, bas lights are also on. just trying to eliminate possible causes of above issues. thanks

 

It is in the steering column and all the wiring in the steering wheel passes through it. It lets the wheel turn while keeping the wires connected.

 

Those are all symptoms of a broken clock spring. You basically described its function...its the part of the wiring that controls everything you listed! It is in the steering column. I've never broke or seen mine but I think its ribbon style wire to turn with the steering wheel.

 

The clock spring is in the steering column. It is tied into all of the items you listed. Mine blew out at 4000 miles and caused all the same symptoms. I hope yours is still under warranty.