The third sensor is most likely the vehicle speed sensor that also is used for the speedometer.
A scan tool could pick up this problem quickly by watching the data from the sensors as you are stopping.
The problem is most likely caused by loss of signal on one of the sensors when the brakes are applied. Usually this happens at slow speed. The brakes will work fine when slowing until you reach about 10 - 15 mph and then the ABS kicks in. I had that happen once on a C7500 truck. Going down hill to a stop sign and just before stopping the ABS kicked in and I went right through the intersection.
If the front sensors are adjustable make sure there is not too much air gap. Loose wheel bearings may cause this problem also. Rusted tone rings may also cause a problem but that usually shows up by turning on the ABS light starting first at higher speeds.
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Today's Featured Article - The Niagra View Mobile - Powered by a 1959 Ford Tractor - by Mark Massey. In 1959 the Niagara Frontier Transit Inc. of Buffalo, New York designed and built six Viewmobiles for the Niagara Frontier Sightseeing Inc. for use as a sightseeing ride at the Niagara Falls State Park, Niagara Falls, New York, powered by a 1959 Ford 611 Tractor.
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