bad news. sounds like a catastrophic compressor failure. keep your a/c button off. You need to replace the compressor. These things should be done:
1. Replace old compressor.
2. Replace accumulator/dryer.
3. Add 4-oz oil, unless compressor comes with oil, then add 2-oz for accumulator.
4. pull complete vacuum.
5. charge with about 2 1/2 cans refrigerant.
Also, if the compressor let metal bits into the system (very possible) you may have to have it flushed.