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Time seems to do that to most airbag cars. My 92 Camaro was looking bad and honking the horn took way too much force which I think is how so many horn buttons get smashed. I just removed the air bag and took my trusty dykes and cut off lots of that cream colored plastic around the edges and behind where you press to honk the horn. The black plastic cover bent back pretty well and eventually laid pretty flat to where it should be. May sound barbaric to some, but works great. Only other alternative I know of would be finding a new or unwarped one. Of course I don't know everything and someone else may have a better idea.
I'd like to know how to fix this as well, mine is doing the same, fortunately i had a spare steering wheel for my 77 T/A, got that on for now (may keep it on, looks a lot better than the air bag wheel), just have to put airbag one back on for MOT.
4th gen air bag wheels are compatible and don't look out of place in thirdgens. Tons of them out there in bone yards that are usually in better condition that the thirdgen wheels. I got this one at a pull-a-part yard for $50 to replace my 91's bag cover that was peeling away. I looked high and low for a replacement before doing the 4th gen swap.