Have a look at this link & scroll down for pictures of where sensors are supposed to be, and read up a bit on them so you sort of know what goes on there. Basically the sensors, sense a little notch or tooth on back of hub or whatever, and that tells it that the wheel is still turning. When it senses the wheel not turning, or slowing down too fast, it sends that signal to the ABS system to go into action & not allow brakes to lock up, thus you feel pulsating in brake pedal, that's the brakes being applied & released very quickly, as needed to avoid lock up of one or more wheels & loss of control of vehicle.(helps you stop straight in a panic situation, or allows you to steer around a corner better without spinning out.) If the path between those 2 spots (face of sensor & notches or teeth) becomes covered in too much rust or dirt, no signal gets back to ABS & thus the light comes on to warn you that your ABS is more than likely not going to work properly, so be careful, a wheel could lock up on quick stop situation. That said, I usually use emery cloth and lighty scuff the surface of the sensor, to clean it off, then a wire brush or whatever to clean the tabs, or notches, whichever you have. I also use contact spray on the sensor head, after just to be sure it's clean. I have seen penetrating spray used on them to remove rust too, but personally I shy away from that, in case it has chemicals that may deteriorate areas around face of sensors. As far as adjusting the air gap, I'd clean only for now, unless it looks like one is way off compared to others, from being hit by something or other. Good Luck, keep me posted. P.S. you may want to try the carwash thing, just in case that cures it, and if it doesn't, it cleans the area you'll be working in for you prior. After carwash, if you do, drive it a little, stop, shut car off, re-start a couple of times just to make sure sensors are re-reading signal.
http://www.autozone.com/shopping/repairGuide.htm?pageId=0900c1528005fc53