That's why they call it "Cruise Control" you set the system to whatever speed you want to keep constant, then it tries to keep that speed as much as possible; which is why the transmission drops gears, to keep the same speed all the time at whatever cost, even if its 2 gears.
I believe the 1ZZFE engine is designed to rev at 7000rpm with no problems, even the 4AGEs are designed to rev to 7800rpm, and the 2ZZGE in the Celica/Matrix/Corolla XRS is designed to run at 8000rpm+ so don't worry because the engine won't break because of that. If anything the motor will love you for running it at the speed it was designed to run at.