Camaro Braking problem?

I drive a 95' 3.4l v6 chevy camaro. ad of recently my ABS INOP light has been lit up occasionally meaning sometimes it will be on when i start my car and sometimes it wont be. But when it is on, when i come up to a red light and hit the brakes, near the end of my stop, the ABS INOP light will turn off, and the LOW TRACTION light will go on and i will have to press the brake pedal all the way to the floor in order to stop without hitting the car in front of me. after a couple of seconds, the LOW TRACTION light will turn off, and the ABS INOP light will go back on. What is most likely the cause of this? its starting to get worse and worse, and im wondering if its still even safe to drive as a daily driver.