William M. Lamont, 53, a retired lieutenant colonel in the Air Force who was an air safety investigator for the National Transportation Safety Board, died of cancer Wednesday. He was taken from his home in Camp Springs to Prince George's General Hospital, where he was pronounced dead.

Col. Lamont was born in Louisville, Ky. During World War II, he was a member of the V-12 Navy flight training program at Emory & Henry College in Emory, Va. After returning breifly to civilian life, he became a pilot cadet in the Air Force in 1949.

Subsequent assignments included the military air transport command in Japan during the Korean conflict and tours as a pilot instructor at West Palm Beach, Fla. and Honolulu. He earned a bachelor's degree at Florida Southern University in the 1950s.

From 1965 until his retirement in 1969, Col. Lamont was stationed with the 89th Military Airlift Wing at Andrews Air Force Base. This is the unit that operates Air Force One, the president's plane, and other White House aircraft. Col. Lamont piloted a Lear jet assigned to the 89th and was operations officer of the wing at the time of his retirement for reasons of health.

He then joined the National Transportation Safety Board and remained with it until he retired last year, again for reasons of health.

Survivors include his wife, Dianne R., of Camp Springs; four daughters, Valerie, who is serving with the Peace Corps in Senegal, and Genise, Melissa and Julie, all of Camp Springs; two sons, Ross and Brian, also of Camp Springs; his parents, Mr. and Mrs. William M. Lamont of Okolona, Ky.; two brothers, Charles, of Pikesville, Ky., and Thomas, of Okolona, and three sisters, Mary Ellen Greer, Shirley Miller and Barbara Bailey, all of Okolona.

The family suggests that expressions of sympathy be in the form of contributions to the American Cancer Society.