While the antilock brake system (ABS) helps keep traction while braking, and traction control (TC) helps keep traction while accelerating, it's yaw control that helps you keep traction while turning (or trying not to!) All three systems watch the output of the wheel sensors and take actions based on them; ABS tries to make sure that all wheels are turning at about the same rate, and TC tries to make sure that your use of the throttle doesn't cause them to spin, but yaw control's job is to make sure that the car goes where you are trying to make it go, and that makes it the most complicated out of the three.
Traction control is a name for a computer-controlled system intended to stop wheels from spinning during acceleration. The term is also used (somewhat incorrectly) to describe yaw control, a system designed to stop a vehicle from turning when you don't want it to. Both systems work by watching information from wheel position sensors, typically the same ones used for the antilock brake system (ABS) and then doing either one or both of two things: reducing the engine power output or applying the brakes through ABS.
The word transmission refers to a transfer of something. In this case, that is kinetic energy. In basically every automobile, a rotational force (whether produced from a reciprocating motion, such as in a typical gasoline engine with pistons, or from a rotary engine, electric motor, or turbine engine) is both transmitted from the engine to one or more driven wheels, but it is also geared down (and sometimes also up) so that it can do useful work.
A tubbed vehicle has had the wheel houses extended towards the inside of the vehicle. This allows the use of wider wheels than stock without widening the body of the car. When this is done, either wheels with a very positive offset (meaning that the hub mounts towards the outside of the wheel) are used, or for more strength, wheels with no offset are used (the hub mounts at the center of the wheel) and the rear axle is shortened so that the wheels do not stick out past the body.
Ground clearance is a measurement of the distance between the ground and the undercarriage]of a vehicle. It is usually shown as the front to back ground clearance in the lateral center, since on many vehicles upon which it matters the differential is the lowest point, a typical characteristic of vehicles with a live axle.