3 mechanics can't figure this out

94 Mercury wagon: already has rebuilt tranny and complete tune-up, everything electrical replaced. the car runs perfectly normal for the first 10 minutes, then when something (i think in the wheels or brakes) gets hot, it won’t go faster than 25 miles an hour without flooring it, the anti-lock brake light comes on and goes off, and it drives like the emergency brake is on until something frees up again. in cold weather or rain it doesn’t happen. in hot weather, all the time. it locks up, then frees, then locks up again, continually. my mileage has dropped to 12 MPG. one mechanic replaced a sensor that he says tells the engine what speed the car is going. that didn’t fix it. help.

the car is my dog transport vehicle, and outfitted accordingly, so i don’t really want to get rid of it. any ideas?