[ImperialCrown]

Are the red BRAKE and yellow ABS warning lamps on? If so, a fault code may be stored in the ABS module.
A 'whoosh' almost sounds more like a power brake booster noise, is the vacuum sealing o-ring between the m/cyl and booster in place?
If the shoes go out and then fall back in, it does sound like an internal leak in the HCU of some kind.
Is this a Sebring coupe (FJ-body) or Sebring convertible (JX-body)? Two very different cars.

 

[ImperialCrown]

These ABS units are difficult to get at and service because of their tight location. Hopefully this isn't a pump problem requiring replacement.
Is air coming out the rear lines?
I know that the DRB 3 scan tool has a sub-menu for bleeding the HCU (hydraulic control unit), but it should be able to be done manually, it just takes a special method and time. Any trapped air will need the solenoids held open electrically to allow the air passage out of the HCU and out the bleeders.