Subaru outback heat/AC/fan stopped suddenly?

I was driving on the HWY with Cruise Control recently when I noticed the car jolted, and the Cruise Control stopped working. About the same time my fan went, with both heat and the A/C. Since I was returning from a road trip, I was afraid to stop the car so we kept driving. I started to hear a noise similar to my disc breaks grinding every time we decelerated, then some awful smell like burning rubber when we came to a complete stop. We continued on until we finally made it home. The check engine light never came on, and since I started my car again I now have my cruise control back, so the only thing missing currently is my heat/AC. How costly is this? Is it dangerous not have the work done right away? And what were those awful smell and noises? Any suggestions would be super helpful....