Question about a A/C Compressor?

My 1995 Chevrolet Lumina LS A/C Compressor is messing up. For awhile it was making a horible noise. Like squeeling. And then it went away for like 3k miles. Now it was back and it broke my belt. I was driving and it started running hot. The power steering stoped. Battery light came on. And i pulled over and the belt broke. I Know it is from the A/C Compressor. But the pully on the Compressor spins fine. So someone told me to disconnect the wire that plugs into the compressor and it should be fine but i wont have air conditioning or defrost. Is that true? Any help would be great.