Word 1:Rabbet (RAB it)
Meaning 1: A cut or groove along or near the edge of a piece of wood that allows another piece to fit into it to form a joint.
Example Sentence: The rabbits in the backyard railing were unequal in number.

Meaning 2: A joint so made.
Example Sentence: The rabbets were made up of very fine timber.

Word 2: Rabbit (RAB it)
Meaning 1: Any of various burrowing animals of the family Leporidae having long ears and short tails; some domesticated and raised for pets or food:
Example Sentence: The rabbits were running all over the garden.

Meaning 2: The fur of a rabbit.
Example Sentence: She loved to wear her coat made of rabbit fur.

Meaning 3: to talk for too long about something that is not important or interesting —
Example Sentence: He rabbited on and on about his problems.

Word 3: Rabid (RAB id)
Meaning 1: Extremely zealous or enthusiastic.
Example Sentence: Her husband is a rabid cricket fan.

Meaning 2: Of or affected by rabies:
Example Sentence: The rabid dog was barking loudly.

Example Sentence using all the words:
The carpenter making the rabbets was rabbiting on about rabid animals.