So I was driving down the street at about 45 MPH and then all of a sudden my truck slowed down to about 25MPH and then if I pressed the accelerator my RPM's went way up but speed limit the same at 25MPH. I was close enough to my house so I drove it home and when I got home there was a burning smell and both front sides of my wheel wells were smoking(looks like it was behind the upper ball joint right around the brake calipers(see terrible pic). Could it be that my brakes seized up? I was going to lift the front end of the truck and try to spin the wheels and see if they could move freely or not. Open to other ideas

 

Both sides???? Hhmmm..... Yeah, jack up the front, spin the wheels, if they spin freely, step on the brake a couple times, then try again.

 

If you don't know what overheated brake pads smell like, take it to a mechanic.
my first thought would be master cylinder front piston not retracting allowing fluid to flow back to the reservoir via compensating port when pedal is released (also make sure nothing hanging is preventing pedal from traveling all the way back, like some aftermarket BS module is blocking pedal travel). The trapped fluid heated up, expanding and creating more braking force, might roll when cold. Is the fluid filthy?

After ensuring pedal travel is ok, I'd remove the lines as if replacing the master cylinder, capping the lines to avoid a headache with bleeding. See if she rolls easy.

 

I replaced the master brake cylinder and the brake booster not too long ago. It was raining yesterday so I didn't have the time to check anything. I'll try to keep you updated.