There is a hissing coming from the steering column area that I know is the vacuum hose for the automatic parking break release ( releases when you shift the car into drive) had the same issue on an '88 Town Car I owned in the '90's. anyone know a resource I can order these parts and exactly what the part(s) I need are referred to as....!? Thanks!
First, ensure you don't have a leak in the hoses. That's what I had to do first on my '79 Ranchero. Then, if that doesn't cure the problem, google "obsolete ford parts" and you'll get some companies that have bought stock from Ford dealers and Ford itself as they cycle to newer parts.
It is more than likely the collar that mounts to the floor. They are notorious for leaking. I simply disconnect the supply line and use a golf tee to plug it. The manual release works just fine, and keeps the problem at bay permanently. Then again, mine are daily drivers, not show cars, so having it work is not important to me.