Opportunity is missed by most people because it is dressed in overalls and looks like work. - Thomas Edison
are you in FL? We had the same thing yesterday. It turns out that one of the legs was blown at the pole. We had power for the lights, dryer... Everything seemed fine so I thought my compressor motor froze. I hooked the spare up and had the same problem. The FPL guys got it fixed in 3 minutes. They said anything with a big motor was effected. Everything else was fine.Good Luck.
Be really careful with those. I was told by a compressor tech that they can hold a huge charge for days or even weeks. If you need compressor company I love the guys I use. They are in boynton but I am sure they service broward too. AirCoMo is the company. Let me know if you want the contact info.
The governor in the back of the motor may have a broken spring. Get a new motor or compressor. Go rent one to get you through if needed
The terminals could have been dancing around grounding out.