Dont do anything with the compressor except unplug it. Its currently working, at least by sound. Unplug it.
Replace your shocks, I suggest the Arnott replacement above, but buying them thru Summit Racing is the cheapest, for the same part.
Find the part you need directly on the Arnott website.
Arnott Industries is the global leader in aftermarket automotive air suspension. From air struts to coil conversion kits, Arnott has it all.
www.arnottindustries.com
Take that part number and plug it into the Summit search engine, you should find them.
There are 3 separate part #'s shown on the Arnott website.
AS2708 is a direct rebuilt part, and it will work like it did from the factory.
AS2715 is a new replacement part with simulators to fool the factory system.
AS3430 is the same as the AS2715, just a cheaper variant.
Once you replace the shocks, plug the compressor back in. See if the air bags fill. If they fill, you should be golden. if they dont fill, unplug the compressor, and likely you will have to replace it.
If you need a compressor, I used the Dorman brand thru Amazon. Best price. Not had any issues with the Dorman brand on this part (cant say that about any other part they make thou!)