I'm gonna stick my neck out here and say no, the clockspring will not cause you to lose control. The clockspring merely helps the vehicle maintain a constant ground between your horn/steering angle sensor and the vehicle. Changing lanes like a maniac? THAT will cause you to lose control. My clockspring went bad and would intermittently turn those same lights on. I never lost control and I would drive normally.
As far as replacement is concern, check with a Jeep dealer. Depending on the age and miles of your Jeep there may still be an extended warranty on that particular component.