telephone - Connect RF module to phone to find distance between them

I would like to know if it is possible to connect an RF(radio frequency) module to my smartphone and find the distance between them with an accuracy of about +/-2 meters. To find distance I believe I have to use RSSI level (Received signal strength indication). I have considered using bluetooth but I would like to find better alternatives because I need more range than bluetooth can provide. I need to measure distances up to 100m/300 feet. I found some module from ebay that transmits 433MHz. Is it possible? Thank you.

Example module: http://www.ebay.com/itm/433MHz-100-Meters-ASK-Module-Kit-RF-STX882-Transmitter-SRX882-Receiver-Antenna-/401186085838?hash=item5d688ddbce:g:ejIAAOSwAuZX1AMm