i noticed that when the motor would reach a high rpm under hard acceleration the belts would slip for a second or two until the rpms came back down, i also noticed some kind of oil on the back of the A/C compressor, maybe that oil is spraying out at high rpm and getting on the belts causing them to slip? i dont realy know so if anyone has this similar problem let me know, thanx.
The A/C compressor front seal may be failing. There is oil in the A/C system to keep the compressor lubricated. Oil seen around A/C fittings is usually indicative of a leak. The higher rpm could aggravate the bad seal creating a momentary spray of freon/oil onto the belt causing the slip. Your initial analysis is a good one, imo.