Speed management plays a critical role in road safety; however, conventional speed limits are determined based on geometry and traffic characteristics, with limited consideration of pavement structural condition and surface distress. This study proposes an integrated mechanistic–quantitative framework that links pavement distress and road safety indicators to the selection of speed limits. A flexible pavement section on Highway No. 80 in Iraq is analyzed as a case study. Mechanistic pavement analysis using KENPAVE is employed to estimate critical strains based on field traffic data and Equivalent Single Axle Loads (ESAL). The rate of failure is estimated by comparing the ESAL and the allowable load repetitions. Safety-related constraints are then derived to quantify hydroplaning risk, braking performance through stopping sight distance, and the vertical shock criterion. The results indicate that the existing pavement structure is marginal, with a high probability of fatigue failure and sensitivity to rutting under traffic growth. The integrated safety analysis yields a critical wet-weather speed of approximately 67–70 km/h, while localized settlements exceeding 10 mm require speed reductions to 50–60 km/h to maintain vehicle stability. The proposed framework demonstrates that pavement condition directly influences safe speed and provides a rational basis for safety-oriented speed management.