cruise control on Mitsubishi Diamante

Average mileage: 162,250 (143,000–193,000)
4 model years affected: 1993, 2000, 2001, 2004
4 people reported this problem
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this morning on my way to work my cuise stopped holding speed. I turned it off and tried angain and it would not work. I am getting power to the switch and the dash show cruise on, but it will not hold the speed. I also thought the trans might have been slipping, but as soon as I released the cuise and pressed on the gas it was fine. Thanks Robert