The accurate estimation of sideslip angle is necessary for many vehicle control systems. The detection of sliding and skidding is especially critical in emergency situations. In this paper, a sideslip angle estimation method is proposed that considers severe longitudinal velocity variation over the short period of time during which a vehicle may lose stability due to sliding or spinning. An extended Kalman filter (EKF) based on a kinematic model of a vehicle is used without initialization of the inertial measurement unit to estimate vehicle longitudinal velocity. A dynamic compensation method that compensates for the difference in the locations of the vehicle velocity sensor and the IMU in on-road vehicle tests is proposed. Evaluations with a $CarSim^{TM}$ 27-degree-of-freedom (DOF) model for various vehicle test scenarios and with on-road tests using a real vehicle show that the proposed sideslip angle estimation method can accurately predict sideslip angle, even when vehicle longitudinal velocity changes significantly.