Yes, it does. It just says that military appropriations for the Army have to be approved by Congress every two years. Congress controls the purse strings, the President has command.

Article I, Section 8:

"The Congress shall have power...To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years; To provide and maintain a Navy..."

Note that the Navy is not even subject to the two year limit on funding.