Yes, knowing when to disable it is the trick; otherwise, Cruise Control certainly will prevent "over-deceleration" and thereby propel you right into a hazardous situation (I wonder if that car that passed Amy was on cruise control?).  As to "over-acceleration" Cruise Control will maintain speed even when going up hill.  To maintain speed it causes an automatic transmission to shift down and give you all that torque that can result in loss of control.