1995 Ford Thunderbird Brake Light

Sounds like your dash-light indicator is telling you that its time for pads and shoes. SOmetimes when these cars come with indicators that makes the dash light(brake-light) when the pads and or shoes get worn down beyound the their limits.

Your worse case is that you have a fluid leak. Check the brake lines, brake caliper, wheel cylinders and master cylinder for leaking brake fluid. If theres a leak then you have air in the system and to get the air out you must first fix the leak and then have the brakes blead at all four wheels.