OK, I'm a man of no patience so I bought a rear sensor and installed it, $18. I started the truck and the light was still on. Many swear words came from my mouth. Then, I realized, the truck has to move for this sensor to work. Took the truck out on the road and bingo, the lights shut off and the 4x4 works perfect. Thanks to all who posted on this thread.
So, to the OP, unless an '08 is different from an '06, there is not separate sensors for the rear wheels. It's just one sensor on top of the rear differential.