Are there any check engine lights on? The only thing near the timing belt that might contribute to this is the crank position sensor, but I don't think that's very likely. If it were bad, that would probably affect you at all RPMs.
If you put it under heavy load (aka floor it in gear) at that RPM, will it misfire or jerk? Or does it only do it when you're coasting/decelerating?
If you want to eliminate the throttle, try revving it from under the hood (in neutral, of course). Move the throttle by hand to rev it to ~2700RPM and see if it feels like anything is sticking.
Is it possible to disconnect the cruise control temporarily? That might be safer ;-)
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