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2nd Gen Ram Tech1994-2001 Rams: This section is for TECHNICAL discussions only, that involve the 1994 through 2001 Rams. For any non-tech discussions, please direct your attention to the "General discussion/NON-tech" sub sections.
I gotta agree with the others and say that MAYBE you got a defect. When I changed my Master cylinder, the parts store gave me 2 defects in a row!!! Thank God the brakes semi-worked.
What year is your truck? You may have a speed sensor on the tranny also that could be shot.
I experienced the same issues once with my 2nd gen, even after I replaced the rear speed sensor. I then realized the wires were worn through where they are attached at the frame rail (above the rear axle). Spliced them back together and walla!