Couple of simple things I can think of.
There should be a vacuum dump switch on the brake pedal, (maybe clutch also) so that anytime you hit the brake, it dumps the vacuum from the cruise. It is a normally open switch (I think) that closes when the brake pedal is in the up position. It is also adjustable, and if it gets out of adjustment, ie, stays open, cruise will not set.
Make sure the speedo sensor and speedometer cables are working.
Next is checking the electronics. This takes a wiring diagram, most likely from a Ford Shop manual, but can be done. You can disconnect the steering wheel switches and check them with an ohm meter, as they send all their signals via two wires, but the different functions have different resistors, so there is a different signal to the box for each function.
If your car still has the electronics in a small black plastic box under the dash by the steering wheel, find one in a junk yard and swap, I have found them to be interchangeble for Fords, Mercs, etc, from about 76 to at least 85.