Air Bag Warning Light blinks on an off

Here's a forum that seems to have helped solved a air bag light problem in ford e-150s http://www.justanswer.com/questions/1gzpi-1994-ford-e150-van-just-started Hope this helps

I have had the same problem. Apparently, as it has been explained to me the coil spring (wiring) for the airbag is coiled around that if one continually turns their steering wheel to one side or the other this will wear the coil spring and it will break. Therefore, needing to replace it. Afer the first few times of this happening I just said forget it because of it costing so much to replace everytime. I think ford should look into this and fix it so it doesn't keep breaking. But in any case, yes this is a problem.

Sorry, I should explain a little more. If one continually turns the steering wheel to ITS LIMIT this will wear the coil spring faster. Also, my horn also went out. The wiring to the horn is attached to this coil spring. Fortunately for me I have a separate wire going to the horn so my horn works.

one more thing, the blinking of the light. If you watch carefully you will notice that it blinks 3 times then pauses and then will blink another 2 times and then stop for a longer period of time. This is giving you the code of what is wrong. It is counting out the number 32, or it may be something else in your case, but the 32 code is telling you a bad coil spring.