My Mustang is Borderline Undriveable. MAJOR problems.

[Cobra Jet]

Problem turned out to be the wheel hub after all. One of the sensors got loose, and the wheel partially destroyed it. The hub itself took some damage in the affair. The sensor was sending out bizarre, nonsensical data, causing the car's ECU to go haywire, shut off the ABS system, and put the engine into some kind of limp mode.

Which wheel hub was it, rear?

I didn’t see this thread until now, but just by reading your initial post, I would have said right off the bat it would either be a ABS tone ring, sensor or the rear axle thrust washers. The rear axle thrust washers have been known to cause drivability issues, specifically the ones you had mentioned in your first post.

Here’s a thread for you for future reference or for anyone else runs across the same issues:
https://www.mustang6g.com/forums/threads/abs-advancetrac-power-steering.162475/#post-3308430

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