On some of the chevy vehicles I work on, the abs/wheel speed sensors can be unplugged right at the top of the upper A-arm/control arm. The wheel hub is part of this system as well and can be easily replaced by removeing the tire, brake caliper and knocking back the axle shaft to loosen it from the wheel hub. I say this because a new hub will come with a new speed sensor and wire. But if you want to tackle the wiring I would just cut out about 6 to 8 inches of the wiring, starting at about an inch to inch and a half away from the plug at the wheel. Make sure you solder the wires together and use heat shrink to seal them