The Bendix OEM knobs for those valves are yellow and red. Yellow is for the brake control valve, which releases the brakes on the power unit. The red is for the trailer supply valve, which provides air to the trailer, both to release the trailer brakes, to inflate the air ride suspension, and to actuate the brakes when the brake pedal is depressed.
Yellow for the tractor brake control valve, red for the trailer supply valve.
On spring brake equipped trucks the answer the is yes. When air is discharged (pulling out yellow or red knob) from the emergency chamber a heavy spring inside the chamber applies tremendous force to you brake wheel. Anything pre-FMVSS 121 (or CMVSS, wherever you reside) will not have the spring chambers and therefore will only hold the brakes as long as there is air there. Once air is gone, say goodbye to the unit!
You don't actually drive a truck, do you? There isn't a switch - the spring brakes (parking brakes) are actuated by pulling out on the tractor brake control valve. This evacuates air from the emergency chamber of the brake chambers, which in turn releases the spring brakes. The springs push the brakes into an engaged position, and that's your parking brake. It's typically the yellow knob (the red one is the trailer air supply). In the case of custom valve covers replacing the OEM ones, it'll be the one on the right.
Chock the wheels or put the transmission in gear. Press in the brake control valve (the yellow knob), and, if applicable, the trailer supply valve (red knob). Let the air pressure settle, then press the brake pedal. You should not lose more than 3 psi/minute for a single vehicle, and 4 psi/minute for a combination vehicle. Any more than that, and you have a leak. Hold the brake for a minute, and check air pressure loss. After that, you have to drain air from the system - this is typically done by pumping the brakes repeatedly. Between 20 - 60 psi, the brake control valve (and trailer supply valve, if connected to a trailer) should pop out. All warning lights and chimes should be activated. Once that's done, you make sure the vehicle is in neutral, and start the engine. Let the air build up. You should hear air release and notice a pause in the buildup of air between 115 - 130 psi.
It's a three tank, dual circuit air system which predates ABS and air dryers. On some models, steer axle brakes will be metered directly off the foot valve... on others, it'll feed through a quick release valve.
That knob controls the location of the air output. The snowflake spots are for air conditioning.
If it's an on-road vehicle manufactured during or after 1975, then yes, it must. It must also have a dual circuit air system, in accordance with FMVSS 121. On a related note, a lot of drivers seem to think the tractor protection valve is the valve which releases the spring brakes on the power unit, and pokes through the dash with a (usually) yellow knob - it is not; that is the brake control valve, which must also be present.
The cast of Air Knob - 2009 includes: Emanuela Dussin as Girlfriend Avery Fleet as Boy
The brake light switch is not air actuated.
Dual Air Brake Diagram
The most common configuration was so that you could release the tractor spring brakes while keeping the trailer spring brakes applied even when you had air supplied to the trailer. Which was a bit pointless, seeing as the Johnson bar was always there for the same purpose. But not all of them served that purpose - there were five different uses for that blue knob.
-choke the wheels, release the parking brakes. when you have enough air pressure to do it, and shut the engine off. -step on/off the brake pedal to reduce to airtank pressure -the parking knob should pop out when the air pressure falls to the manufacturers specification (usually 20-40 psi) THIS CAUSES THE SPRING BRAKES TO COM ON. To check for emergency operation of spring brake on straight truck: Release park brake. Build air pressure to 100 psi. & shut engine off. Drain primary air tank & step on brake foot pedal. You should hear air exhaust from brake chambers & rear brakes should apply. This will give you controlled spring brake application if you loose primary air pressure.