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Yes, that sensor on the rear axle is actually the VSS, or Vehicle Speed Sensor. Both the PCM and RABS computers use the signal information from that sensor. There should be a RABS valve on the driver's side frame rail, around the firewall area. It should have about 5 wires connected to it.
My mistake, if you have a solid state speedometer, then you're vehicle speed is taken from the rear differential speed sensor. If you have a mechanical speedometer, your speedo is driven from a cable connected to the transfer case tail housing.