Is possible, had to switch on my brain, Hall Effect is essentially a bipolar transistor that is switched on by a magnetic field rather than a base bias current. But requires a series resistor to drop that voltage. If mounted in the sensor, three wires are required, ground, voltage, (5V typical), and the junction between the Hall Effect and series resistor for the signal output.
But if that series resistor were mounted in the module to 5 volts, and where it exits the module with a tap on it for the signal, only two wires would be needed for the actual sensor.
To me, ABS is next to worthless and another very expensive item to repair. If driving on glare ice, both left and right wheels will lock up, no differential in pulses, no ABS. If one wheel is on a higher friction surface than the other, then its activated, but what good do they do if that other wheel is on glare ice? Does pulsing it help you stop quicker, some Standford professor seems to think so, was given a grant to come up with statistics to prove they are 14% safer, so then congress made it law.
And because of insurance regulations, have to keep them in perfect operation or may not be covered in the event of an accident.
Can't even visualize, the hydraulics can keep up with that high pulse rate, road salt rust the edges of the brake pads so they stick and won't respond. Other problems is that brake fluid gums up restricting the movement of those solenoids. That leads to another problem, driven by transistors that can short out with an inductive road, for that particular wheel, won't get any braking at all!
Cruze took another step by using the rear brake solenoids to save a couple of bucks on proportioning valves. If the ABS doesn't work, can get full braking on the rear wheels resulting in a skid.
Another addition to ABS is traction control, if one wheel spins faster than the other, pulses the brake on that wheel to help prevent a skid. One thing for darn sure, an 89 cent microcontroller will never replace a limited slip differential to prevent that slippage.
And another, ABS will never replace the stopping power of studded snow tires. Just feel the world is going nuts. And that 89 cent microcontroller is way way overpriced! Just another legal means to screw the consumer. Should be warrantied for the life of the vehicle since they made it a federal laws. Can say the same thing about airbags.