yes because brake fluid wont wear out as much No, brake fluid will destroy the seals in the Power Steering system.
DOT 3 brake fluid
For a 1986 Dodge Conquest, it's recommended to use DOT 3 or DOT 4 brake fluid as the hydraulic fluid for the clutch system. These fluids are compatible with the rubber components typically found in older vehicles. Always check the owner's manual for specific recommendations and ensure that the fluid is clean and free of contaminants.
possibly a bad brake switch located on the brake pedal assy
Fix the cause, or keep adding fluid.
Low brake fluid level or Parking brake not released completely
use brake fluid
DOT 3
D.O.T. 3 or 4 Brake Fluid
Front disc/rear drum
Master cylinder empty (no brake fluid) Leak in brake line or wheel cylinder Defective master cylinder
Check the brake fluid level in reservoir.
Mopar ATF+4