Cannot run and reinstall Adobe Air on Windows XP (32 bit)

Unfortunately this error code isn't very helpful.  In cases like this I usually try and install previous versions of the runtime (usually starting at the 2.0 release) then incrementally update them until I either get up to date or as close as possible.  You can find previous versions here:

http://helpx.adobe.com/air/kb/archived-air-sdk-version.html