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There is a pin on the bottom of the ignition cylinder that is reachable in the ON position. You push that pin in, and pull the cylinder out.
I made some pictures when I replaced mine, but they all came out very crappy so I just deleted them, but you can search for 'replacement' threads -- you need to take out the old one and either install a new one, or take the old one to a locksmith so he can fish the broken key out.
Turn the key to the "on" position and look up at the underside of the column where the key goes in. You will see a small hole there...its like 1mm in diameter. You need to stick a paper clip or something like that up in there while pulling outward on the key switch. Then just put a new key switch in......they are only like $25.00
Or at least with the switch out and in your hand it will not be so hard to get the busted part of the key out.
Rezvani's Latest Post-Apocalyptic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.