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This is a typical problem with the HB's. I had to replace mine on my '93 SE V6 4x4 late last year, picked it up used from a JY for $11. Your first set of contacts are probably worn.
Removal is as about as basic as you'll find. Remove upper and lower steering column covers and there should be two small phillips head screws holding it in place, then unclip the harness. Installation is the opposite.
I'm not sure on the price of a new one. Since I have a '93, my CC is on the stalk and the price was a little higher when I called ($135), whereas the '94's have the CC in the steering wheel, if yours is equiped with it. Which would make the price cheaper.
You could always take it out and gently clean the contacts with fine grit sandpaper, I did this on an old 720 I used to own, it lasted until I sold it.
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