Thanks soo much for info. But kinda confused . I have a 6.5 hp motor are u saying it's really a 3 hp?
Yes, exactly. Maybe slightly higher than 3HP, say 3.1 - 3.3HP.
Compressor manufacturers essentially lied for years about motor power ratings and kept inflating the advertised numbers (the same thing happened with vacuum cleaners and lawn mower engine HP numbers) to the point at which there was a class-action lawsuit against the industry to stop this practice about ten years ago. They also lied-by-omission by listing "SPL" on the motor nameplate where the HP rating was supposed to go. This way they could get away with inflating the HP number on the compressor label.
You will notice now that in stores today your size of compressor will have words something like "3.3 HP running" on it. The 6.5HP as used on your compressor was a peak number that the motor could achieve for only a few seconds w/o overheating. It was essentially a meaningless number.
You can tell the approximate HP of a motor by how much current it draws. True 5HP single-phase motors draw 22-28amps @240VAC (depending upon their efficiency). Yours probably draws about 15-16 amps.
So, pick a new motor pulley to spin one of those two HF compressor pumps at about 2/3 of its maximum RPM, and then measure your motor current. If you are at or under your nameplate amp draw, you are golden! If you try to draw more, it will shorten the motor life. You may be able to get away with 5-10% higher-than-nameplate current, but personally I wouldn't push it on that consumer-grade motor (on a true industrial 5HP motor there is more margin for overload and you could probably get away with that for intermittent duty use).