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The temp sensor may be damaged/inoperable, or unplugged. It should be on the passenger side of the opening below the license plate, in front of the A/C condenser. The connector should be above it, visible from under the hood, passenger side of the air filter box. At least on a 94 that's where it is. What year is your car?
Look for "ambient air temperature sensor" for your Corvette year on Google so you know how it looks. It's right under passenger front bumper near licence plate like polovette said
My brother's 95 vette had the same problem. Turns out that one of the wires that goes into the sensor was burnt. So we cut the burnt wire and simply ran a new one into the terminal of the sensor. Fixed.
The sensor was still good. We cleaned it as well. Its somewhat a pain to get to but you'll get it no prob