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My 1982 has cruise control. When I set it, it wants to immediately increase by 3-4 MPH. Then, as if it notices the problem, it will decrease throttle and drop 5-6 MPH. If I place my foot on the gas pedal, I can sometimes coax it into behaving. Then, when a slight hill comes my way, it starts all over again.
I have checked the cable from the cruise control unit to the throttle bodies, it is smooth. The cable to the unit from the transmission is smooth. I don’t believe there are any vacuum leaks either.
I have had this car for 17+ years, and it has always done this. IT DRIVES ME NUTS!!