Possibly, but that is also a symptom of a bad EGR valve, an inoperative thermactor, or a bad speed sensor. Does your cruise control work if you have it? If not, it may be the speed sensor.
When you're slowing to a stop, your computer tries to keep the engine at around 1200 rpms and then when you stop it should drop to normal idle of about 700 rpms. Without the speed sensor, your computer doesn't really know if you are still moving or not. The IAC is what the computer uses to control the RPMs.
You should definitely get a code reader and do the quick test followed by an engine running test. These are really helpful at finding out what is wrong.
One thing that is happening when you're slowing down is that vacuum jumps. A problem while stopping could mean that a vacuum control solenoid is stuck open. There are three of them on the backside of the passenger side strut tower. EGR is on top, and thermactor ones are the two below that. If you've experienced some backfiring, it may be the thermactor. Oh, that's the air pump system, btw.
Another possibility is that you have a spark plug wire shorting on a header or something. When you're coming to a stop, it may be flipping forward and contacting the header.
Just some ideas.
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351W 89 Mustang GT Convertible