Horn, cruise, alarm, airbag/seatbelt indicator not working properly

The horn, cruise control, and air bag all have one thing in common. That's the clock spring. That's a wound-up ribbon cable in a plastic housing under the steering wheel. All three of those systems have circuits running through it.

By "reading bad", I assume you mean the Check Engine light is on and there was a diagnostic fault code related to the oxygen sensor. Those codes never say to replace parts or that they're bad. They only indicate the circuit or system that needs further diagnosis, or the unacceptable operating condition. When a sensor is referenced in a code, it is actually the cause of that code only about half of the time. You also have to look for broken or rubbed-through wires, stretched connector terminals, corroded splices, and things like that.

Check out these articles:

https://www.2carpros.com/articles/symptoms-of-a-bad-airbag-clock-spring

https://www.2carpros.com/articles/steering-wheel-clock-spring-removal