I have a an '88 FC base model, and I just had a question. Is the handbrake supposed to be able to lock my wheels while I'm moving? I mean, it'll hold the car stationary on a sizable hill, but above like, 3mph, it has no effect. I can pull it up without the car slowing at all. Is this normal for a stock e-brake, or does it need to be adjusted? Thanks in advance guys.

 

It is basically a parking brake and only gives the brakes enough pressure to hold the car when parked.It is not meant for Drifting!
If you want anything stronger than that you should be looking at modifying the back brake setup to a Hydraulic E brake setup...Tokyo drift style yo.

 

Welcome to the early 20th century, when braking was done only with the engine and the rear mechanical brakes.

If your handle is coming up really high before engaging, it could need adjusting. The cables do tend to stretch a bit over the years. But just as likely your rear pads are getting worn. Even when they're only half-worn, a new set makes a big difference in my experience. And they tend to bite better too.