I bet its just a dirty vehicle speed sensor. They plug into your hubs. I am working on mine right now. Just take off the brake caliper, rotor, and the speed sensor. Clean it up and put it back on. That is the fix I am reading about online. It happens alot in the snow states.
Check brake fluid level in master cylinder Make sure parking brake is fully released warning light comes on because there is a fault in the brake system. you need to go to a mechanic before the brakes fail
The brake warning light comes on in your dash if the emergency brake is on or the brake fluid level in the brake master cylinder in your engine compartment is LOW
This light warns that there is a problem somewhere in your anti-lock brake system. If the light comes on while you are driving, have your vehicle checked by a Toyota dealer asap. The light comes on when the ignition key is turned to the ON position. After 3 seconds it should go out. When the "ABS" warning light is on (and the brake system warning light is off), the brake system operates conventionally but anti- lock brake system is not assiting brake performace so that the wheels can lock -up during sudden braking or braking on slippery road surfaces. Vehicles with rear differential lock system- The anti-lock brake system does not operate when the rear differential is locked. It is normal operation for the "ABS" warning light to be on at this time.
If the " BRAKE " warning light comes on in your dash either the BRAKE FLUID LEVEL IS LOW in the brake fluid reservoir located in the engine compartment of your 1995 Ford Mustang or the parking / emergency brake is engaged
I had the same problem withj my 2003 Silverado - change the alternator..it worked for me.
If the handbrake is not engaged, and the warning light is coming on, it may mean that there are components in the braking system that require maintanence. Or, it could mean that the master cylinder is low on brake fluid.
The brake warning light
It is important to know what it means when a warning light comes on. If the ABS light comes on, it means that there is a problem with the brake system within the car.
To release the parking brake, hold the regular brake pedal down with your right foot. Push down momentarily on the parking brake pedal with your left foot until you feel the pedal release. If the parking brake is not released when you began drive, the brake system warning light comes on and s chime sounds as a warning that the parking brake is still on.Manual Book page 2-28
The red " BRAKE " warning light in your dash comes on if the emergency brake / parking brake is on , or if the BRAKE FLUID LEVEL in the brake master cylinder ( located in your engine compartment , near the firewall , on the drivers side of the engine compartment ) IS LOW
It is important to know what the warning lights mean when they light up. The ABS light comes on when there is an issue with the Brake system in a car.
If it comes on when you step on the brake pedal you might need to bleed your brakes. Also check your brake fluid in the master cylinder.