small red light on the steering unit, next to the drivers air panels. Why is it blinking non stop? can't figure this out..

 

I may be way off here but the first thing that comes to mind is does this truck have an aftermarket alarm system? If so this may be the reason for the blinking light. Have you always owned this or did you recently aquire it? In aftermarket alarms the light usually protrudes from the surface of the installation point. If it came from the factory with this light one would think that there would be something close by to identify its function.