The EJS npm module that comes with Sails does not include helpers, which may not be immediately apparent since the Sails.js views documentation links directly to http://embeddedjs.com/. So you must first install the 'express helpers' npm package:
npm install express-helpers --save
Then, inside your app's config/bootstrap.js, add this inside the bootstrap function:
require('express-helpers')(sails.express.app);
Restart your app and your view template should now properly render any link_to's.