Speed Control Springs problems of the 1999 Jeep Wrangler

I was driving an old washed out and bumpy mountain road. Due to the bumps, I could not go much faster than 15mph. The road/ground was wet and slippery so I was in 4hi. After going down the road for about 30 minutes and going around a turn, the airbag light came on. As I turned the wheel in the opposite direction, to go around a large downed tree, it momentarily shut off, then returned to on. I immediately turned the Jeep off and checked the airbag fuses. Both are good. Puzzled and rather nervous that the airbag might go off in my face, I turned around to go back to the main road. After nervously driving a few miles down the road, I returned the Jeep to the speed limit and attempted to engage my cruise control but, the light wouldn't turn on. I tried all the cruise control buttons to no avail. Pulled over and checked the fusebox again for the cruise control fuse but, I couldn't find one anywhere. After driving another 100 miles home, I let my sister's fiance, who's a mechanic, check it with his scan tool. According to his scan tool, the clockspring has malfunctioned. After doing a few google searches, it's apparent that the cost to have this fixed is very high. The part itself is over $200 and needs to be replaced by a mechanic! labor is going to be at least another $200 based on how much time it will take and the fact that it will more than likely have to be done at a dealership. Shouldn't this be a lifetime part? why should I have to pay to have this fixed if it's a major safety issue? any response would be greatly appreciated as I don't have the money to have this fixed and I'm rather nervous to drive it now. What are the odds of the airbag going off? best regards, eric gallegos.