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ABS system, ABS light, and shift lock override 850 1995

I sense an expensive one here.

1995 850 sedan - the wife's daily driver.

A few days ago the ABS light started coming on under heavy braking. I thought it might be low tire pressure so I checked - all OK. I did a controlled test and it appears that the ABS system is not working as I get rear wheel lockup under emergency type braking. This weekend the ABS light started coming on and staying on and now the shifter won't shift out of Park unless the "shift lock override" button is engaged.

Are these likely related issues? What's the likely cause of the ABS system failure - is there a separate control unit for the ABS or is it all controlled via the main ECU?

Any idea on what kind of repair bill I'm looking at? If it's just a bad ABS control unit, is that someting I can replace myself or should I let my local Volvo expert (not a dealer) handle it?

TIA






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