AC motor to apply braking torque
You cannot do this with single phase motors, but you could do it with 3 phase motors and VFDs that have a Dynamic Braking function, assuming the braking functionality will allow the load you are wanting to stop. 

But this is WAY more complex than you are thinking it is. You need a VFD that is capable of Flux Vector Control using a shaft encoder feedback loop plus the capability of providing what is called "Torque Proving" so that you do not release the mechanical brake until you KNOW that you have full negative torque at the motor shaft, which means before the motor shaft is moving. That is not something that inexpensive equipment is capable of.