Flashing cruise could be the Vehicle Speed Sensor... There's a few reasons that a cruise light would flash, but not really any others that'll make the car run like crap too. Most of the other reasons will just cause the cruise itself to not work, but the VSS could def. screw with drivability. I'm not sure what the DTC set schedule for the VSS is, but if it's, say 3 cycles, then you may not have a CEL, but it's still F*ed.
When you turn off the key, the cruise self-diag clears, so it SHOULD go away after restarting.
If that helps any...
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