A system and method for controlling an internal combustion engine in a vehicle include controlling the engine to achieve a desired vehicle speed/deceleration when the accelerator pedal is released. A desired vehicle deceleration may be determined based on current transmission gear, vehicle speed, and road grade. Vehicle speed/deceleration is measured using a vehicle speed sensor and/or wheel speed sensor(s) and the engine is controlled to reduce the error between the desired and measured decelerations. Electronically actuated intake and/or exhaust valves, and/or an electronically controlled throttle may be used to achieve a desired vehicle deceleration profile. A selector switch or similar device may be used by the driver to select a desired deceleration profile from two or more available profiles and/or a desired deceleration profile may be automatically selected based on current ambient and/or vehicle/engine operating conditions.