1985 Ford F-150 Actuator on the steering wheel column

Electrical problem
1985 Ford F150 V8 Two Wheel Drive Automatic 125k miles

What functions does this thing do? I noticed a green wire off and didn't know if I could repair it or not so I bought a new one to replace. My horn works and plan to replace a turning switch anyway and would have to remove the steering wheel. I figured that I might just as well replace it as is (or will be) torn down. My cruise control does not work and wondered if this is what was needed to interrupt the cruise control as the brake is applied. Is my thinking correct on this? Now I have no brake lights and wondered it this too didn't have something to do with this strange part I never heard of :). Any help you could give me would be greatly appreciated because I plan to tackle this next Monday hotter than Hell or not! :) I can't seem to find any repair manual that even mentions this part or its functions.
Thanks, Francis J. LeClair
P.S. All of my fuses are good!