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I have had this problem in my 90 F250 for years. I replaced the sensor in the rear diff and it didnt go out. I would like to hear anyones opinion as well.
Same thing happened to me, though it was caused by someone accidentally cutting me off in a round about (I was in the round about, he went through without looking), I braked really hard to prevent a collision and right after, both lights turned on. 2 hours later there was no brake pressure. It turned out that the front break calipers had shattered, amazingly, they were still the original calipers and had lasted 235,500 miles.
Once the calipers were replaced and the power braking hoses were reattached the lights turned off.