Your ecu isn't happy. There is an issue somewhere.. someone correct me if I'm wrong, but the flashing cruise is not going to point you in a specific direction for troubleshooting.
The ecu will not let you use cruise with an issue somewhere in the system. The ecu has to perform a lot of calculations in order to control the speed of the car, etc. If there is an issue, the ecu will lock out cruise. If the problem is severe enough, the ecu will throw a cel.
To reiterate what the others said, if you ever have a flashing cruise, you'll want to have someone competent read the code.
You're lucky- if it were me, I would have blown the turbo on the way home from the dealership Lol