Here's what the FSM says:
Two processes depending on whether or not the switch will turn.. worst case last
«1994 Continental Table of Contents»
«Group 11: STEERING SYSTEM»
«Section 11-04: Steering Column»
«REMOVAL AND INSTALLATION»
Ignition Switch
Functional
Removal
1. Rotate ignition switch to RUN position. Using a 1/8-inch drift, depress lock cylinder retaining pin through access hole and remove lock cylinder.
CAUTION:
Carefully note the position of the bearing retainer prior to removal.
2. Remove blue plastic bearing retainer by inserting a screwdriver or similar tool, with a 90 degree bend on the tip, between bearing retainer and bearing and by prying upward.
3. Insert tip of a screwdriver into Double-D slot of bearing, then rotate 90 degrees. Remove bearing.
4. Remove lock drive gear. Carefully note relationship of lock drive gear to position of rack teeth.
Installation
1. Position lock drive gear in base of ignition switch lock cylinder housing in the same position as that noted during removal procedure. The position of lock drive gear is correct if last tooth on drive gear is meshed with last tooth on rack.
2. Position bearing retainer in ignition switch lock cylinder housing. Insert tip of a screwdriver into Double-D slot of bearing, then rotate 90 degrees.
3. Press blue plastic bearing retainer into lock cylinder housing. Ensure retainer is in its original position.
4. Line up flats of drive gear with flats of washer by pulling down on the column lock actuator.
5. Install ignition switch.
6. Check for proper start in PARK and NEUTRAL. Also, check to ensure start circuit cannot be actuated in DRIVE or REVERSE positions and the column is locked in LOCK position.
Ignition Switch
Non-Functional
The following procedure applies to vehicles in which the ignition switch is inoperative and the ignition switch cannot be rotated due to a lost or broken ignition switch key, unknown key number, or a lock cylinder cap that has been damaged and/or broken to the extent that the ignition switch lock cylinder cannot be rotated.
Removal
1. Disconnect battery ground cable.
2. Remove steering wheel as outlined.
3. Using channel lock pliers or vise grip pliers, twist lock cylinder cap until it separates from the ignition switch.
4. Using a 3/8-inch diameter drill, drill down middle of ignition switch key slot approximately 44mm (1-3/4 inch) until ignition switch lock cylinder breaks loose from breakaway base of lock cylinder. Remove lock cylinder and drill shavings from lock cylinder housing.
5. Remove retainer, washer, ignition switch and actuator. Thoroughly clean all drill shavings and other foreign materials from casting.
6. Carefully inspect ignition switch housing for damage from the above operation. If damage is apparent, housing must be replaced.
Installation
1. Replace lock cylinder housing, if damaged.
2. Install actuator and ignition switch as outlined.
3. Install trim and electrical parts.
4. Install new ignition lock cylinder as outlined.
5. Install steering wheel as outlined.
6. Check lock cylinder operation.