1994 SE stopped fine until today. Pedal went to the floor when trying to stop. At any speed (other than a crawl) the pedal pushes smoothly to the floor, at that point the brakes start to grap. If I brake at this "end of limit" position the car swirves left then right, I just have to compensate when braking.

At a stop I can pump-up the brakes and pedal will not go down to the floor (stays pumped-up) NOT like when braking under load. Did not see any leakage around the wheels. No fluid around the master cylinder. Fluid full, but old. Any thoughts? I figure a bad master cylinder.

Thanks.

Bleed first. If that fails, try the MC.

Best way to bleed brakes if you don't have any kind of brake bleeder (or the $ to get one)?

Two people. RR, LR, RF, LF, repeat 2 or 3 times. Put the car on 4 ramps if you have them.

Willwren'* told you the correct order, but if you mean actually HOW to bleed them, here'* a crash-course...

Affix a hose, 6-inch, 10-inch, whatever ya got, so long as one end goes on the bleeder valve and the other is submerged in a glass jar half-full of brake fluid (keep the end submerged or you'll suck more air into the system)
I recommend a glass jar simply so you can keep an eye on the fluid level in the jar easier and also to see bubbles that come out.

1: 2-person job (A inside car, B under car)
2: Top-off the brake fluid reservoir
3: A pumps a few times to hopefully achieve a decent pedal then holds pressure on pedal and yells "HOLDING"
4: B yells "OPEN" and opens bleeder valve then when A yells, "FLOOR!" B closes valve and yells "CLOSED"
5: repeat steps 3 & 4, checking the reservoir fluid level every couple of repetitions to ensure it doesn't go dry and start sucking more air into the system

The yelling is just to keep you both on the same page... if you don't have the hose submerged in the glass jar and A lets off the pedal while you've got the bleeder valve open, air is sucked in through the hose, thus nullifying all your hard work.
If air DOES get back into the system while you're doing this, start the process over at the RR again..
And like Will said, after doing this whole thing a couple of times, any air should be gone from the lines.
The order given represents starting at the valve farthest from the brake fluid reservoir and working your way towards it... wouldn't help much if you did the LF (right under the reservoir) if there'* still air in a rear line.

Most likely the problem is a failing master cylinder. Be careful until you are postive this condition is fixed.

Plan to stop earlier and pumping the pedal as you found will help restore the brakes if they begin to fail again.

A master cylinder beginning to fail can have these symptoms intermittently.