I had an issue like this about ten years ago in my 92 Ranger 3.0. When my AC cycled on, my RPM's dropped considerably. The problem is, I don't remember exactly what I did to fix it. If I remember right, it had something to do with my electrical system. Though, I don't remember if I just changed out a worn serp belt, or if that was when my coil decided to flame out on me. I'm sorry I couldn't be more use, and I hope I haven't gotten your hopes up too much. I would start at the beginning and go from there: When your compressor starts up, it kills part of your engine power. Check your compressor pulley, make sure it isn't trying to seize up on you, check your belt and make sure it isn't slipping when the compressor kicks on, stuff like that. I am not a mechanic, however. I'm just going by what I remember from my own experience ten years ago. Hope this helps some.