Yes they do use the same sockets and hence the name led Light emitting diode.
A diode is a electronic component that will only flow current in one direction .
When I did mine I used the schematic diagrams for the wires to to the dash circuit board
the instrument lights all have a common + and a common - ground those are easy, the idiot lights are a little tougher because they
are feed 12v in an then they are grounded by there respective switches (brake switch alt and oil switch )
the brake is activated by grounding at the proportioning valve and the emergency brake .
Well I hope that's as clear as mud lol anyhow here is a picture that will help .
This is for a camaro but almost the same .