The research on traffic congestion control has seen rapid development in recent years. Investigating the bifurcation characteristics of traffic flow and designing control schemes for unstable bifurcation points can offer new methods for alleviating traffic congestion. This paper focuses on studying the bifurcation characteristics and nonlinear control of traffic flow based on the continuous model and the taillight effect. Firstly, the traffic flow model is transformed into a stability model suitable for branching analysis through the use of the traveling wave transform. This transformation facilitates the analysis of stability that reflects unstable traffic characteristics such as congestion. Based on this stability model, the existence condition of Hopf bifurcation is proved and some bifurcation points of the traffic system are identified. Secondly, the congestion and stability mutation behaviors near equilibrium and branching points are studied to understand the formation mechanism of traffic congestion. Finally, control schemes are designed using Chebyshev polynomial approximation and stochastic feedback control to delay or eliminate unstable bifurcation points and relieve traffic congestion. This improved traffic flow model helps explain changes in system stability through bifurcation analysis and identify unstable bifurcation points. It can also effectively manage these points by designing a feedback controller. It is beneficial for controlling sudden changes in traffic system stability behavior and mitigating traffic congestion, with important theoretical significance and practical application value.