Are you sure your motor size 2.75hp? Are you on 120V or 208V? I ask about the motor size since 2.75hp is not a standard NEMA motor size and even at 208V that is a really larger current draw. You may need to have a dedicated breaker just for the air compressor. NEC 250-148 gives you the FLA ratings for single phase motor. I added a link below for FYI
http://www.cerusind.com/catalog/docu...30_150-148.pdf