The most common cruise control ailments are broken wires on the turn signal stalk and the switches on the brake and clutch pedals. Mine had both problems when I bought it. Adjusting the pedal switches and replacing the stalk cured the problem. Replacing old vacuum lines is always a good idea as well.
The stalk can be removed by just grabbing it and pulling. You will be able to see the external cruise control wires. If they are pinched, or the insulation worn off, it should be replaced. The chinese knockoffs on eBay run about $25, and work just fine.
With the car off / key on, move the switch to the on position. Do you hear a click at the cruise servo?